DOUGLAS AND WHITINSVILLE, MASS. — NorthMarq Capital has finalized $2.3 million in refinancing for a portfolio of multifamily properties. The firm secured a $1 million in refinancing for four properties in Douglas: 347, 349, 353 and 355 Main Street. Additionally, NorthMarq arranged $1.3 million in refinancing for three properties in Whitinsville: 258-260 Church Street, 87 East Street and 87.5 East Street. The seven-property portfolio features 41 apartment units. The transaction was structured with a 10-year term on a 30-year amortization schedule. Ed Riekstins of NorthMarq arranged the financing through its seller/servicer relationship with Freddie Mac for the undisclosed borrower.
BOSTON — New Balance Athletics Inc. and John Hancock Financial have partnered to develop The Residences at Boston Landing, a 17-story apartment building located near the New Balance headquarters in Boston. Hancock is taking a major equity stake in the project, which is slated to open in June 2018. Designed by Elkus Manfredi Architects, the property will feature 295 units in a mix of studio, one-, two- and three-bedroom layouts, 16,400 square feet of ground-floor retail space, an activity lounge, outdoor courtyard and pool, pet grooming station and bicycle storage. The Residences at Boston Landing will be a residential building within Boston Landing, which is a 15.2-acre mixed-use development. Other buildings at the development are occupied by New Balance, the Boston Bruins Practice and Training facility and the future practice and training facility of the Boston Celtics. Future plans for the development include the construction of a 290,000-square-foot sports complex. The project team includes John Hancock and New Balance Athletics as investors; New Balance Development Group as master-plan developer; The HYM Investment Group as development manager; Elkus Manfredi Architects as architect; John Moriarty & Associates as general contractor; and Moran & Co. as real estate investment banker.
CAMBRIDGE, MASS. — HFF has arranged a $21.6 million first mortgage loan for Hathaway Lofts, a multifamily property located at 15 Richdale Ave. in the Porter Square neighborhood of Cambridge. Brett Paulsrud and Xave Jacoby of HFF secured the 10-year, fixed-rate loan for the borrower, Camco Management Co. Formerly Hathaway Bakery, the recently renovated property has been converted into an apartment community featuring 46 loft-style units in 35 layouts.
WAREHAM, MASS. — The Stubblebine Co./CORFAC International has arranged a 50,000-square-foot lease expansion at 20 Kendrick Road in Wareham. T. Marzetti Co., a subsidiary of Lancaster Colony Corp., has added 50,000 square feet to its current 70,000-square-foot space to occupy the entire 120,000-square-foot distribution facility. David Stubblebine and James Stubblebine of The Stubblebine Co. represented the landlord, Malden Frame Realty Trust, and the tenant in the transaction.
BOSTON — HFF has arranged $63 million in financing for two office buildings, located at 320 and 333 Summer St. in Boston’s Seaport District. Frederic Wittman and Brett Paulsrud of HFF secured the 10-year, 3.65 percent fixed-rate loan with The Hartford Financial Services Group for the borrower, ASB Real Estate Investments. Totaling 217,000 square feet, the buildings feature loft-style space that is 97 percent leased to LogMeln, a PC data systems management firm that is merging into a subsidiary of Citrix. ASB’s Allegiance Fund, in a joint venture with Lincoln Property Co., owns the buildings.
NORWOOD, MASS. — Benchmark Senior Living has opened Benchmark Senior Living on Clapboardtree, a 90-unit assisted living and memory care community in the Boston suburb of Norwood. The community features 69 assisted living units and 21 memory care units. It is Benchmark’s 53rd community. Based in nearby Waltham, Benchmark is a developer, owner and operator of seniors housing communities in the Northeast, largely focused on New England.
REVERE, MASS. — Nauset Construction has completed the second phase of renovations to the Lighthouse Nursing Care Center in the Boston suburb of Revere. Genesis HealthCare operates the community, which Donahue Architects designed. Phase II included the installation of rooftop mechanical units, new fire protection systems, lighting and finishes throughout the entire third floor. Site work included parking lot and sidewalk reconstruction including handicap accessibility enhancements. Phase I, which The Architectural Team designed, included construction of a three-story, 17,000-square-foot addition and the renovation of an additional 10,000 square feet of existing space, providing the facility with 12 short-term rehabilitation beds; suites for physical, occupational and speech therapy; medical offices; clinical space; and a 2,700-square-foot rehabilitation gymnasium.
READVILLE, MASS. — CBRE/New England has arranged $11 million in acquisition and capital improvement financing for Boston Business Park – Building 200, a 205,061-square-foot industrial building located at 100 Meadow Road in Readville. John Kelly, Kyle Juszczyszyn, Chris Coutts and Lenny Pierce of CBRE/NE secured the financing for the borrower, a joint venture between Wallace Property and GFI Partners. Boston Business Park is the future home to M.S. Walker, ABEX Transportation and Katsiroubas Bros. Current tenants include HD Supply, The Ride, Gentle Giant Moving and MFI Tire Wholesale.
LITTLETON, MASS. — SVN|Parsons Commercial Group|Boston has brokered the sale of a high-tech office building located at 305 Foster St. in Littleton. Foster Street Acquisitions sold the building to 2641-2651 Santa Anna Avenue LLC for $4.4 million. Situated on 10.3 acres, the building offers 80,064 square feet of office space for high-tech and R&D tenants. At the time of sale, the property was more than 80 percent occupied. Marci Alvarado, Jake Parsons and Marilyn Santiago of SVN|Parsons represented the seller in the transaction.
WALTHAM, MASS. — Colliers International Boston has arranged the $9 million sale of a two-building office and flex portfolio on behalf of Schernecker Property Services. Boston-based btcRE acquired the portfolio, which includes a 40,000-square-foot office and warehouse building at 179 Bear Hill Road and an 18,000-square-foot flex building at 283 Second Ave. in Waltham. MSPCA, a local non-profit that protects animals, fully occupies the property on Second Avenue. Doug Jacoby, Scott Dragos, Tony Hayes, Tim Mulhall and Dan Hines of Colliers represented the seller in the transaction. Additionally, Tom Welsh, Adam Coppola and John Poole, also of Colliers, arranged $9 million in acquisition and bridge financing for a Massachusetts-based loan fund on behalf of the buyer.