AUBURN, MASS. — Boston-based mortgage banking firm EagleBridge Capital has arranged a $10.8 million loan for the refinancing of an 82-room Hampton Inn hotel in Auburn, located just outside of Worcester in Central Massachusetts. Rooms contain king or double queen beds, microwaves, refrigerators and coffeemakers, and amenities include an indoor pool, fitness room, meeting room, business center and complimentary breakfast. Ted Sidel of EagleBridge Capital arranged the 10-year loan, which carries a fixed interest rate and a 30-year amortization schedule. The borrower and direct lender were not disclosed.
BOSTON — MassDevelopment has provided $45.2 million in tax-exempt bond financing for a 96-unit affordable housing project that will be located at 127 Amory St. in the Jamaica Plain area of Boston. Developed in partnership with the Boston Housing Authority, the building will offer 12 three-bedroom units, 51 two-bedroom units and 33 one-bedroom units, the majority of which (86 residences) will be reserved for households earning between 30 and 80 percent of the area median income. The other 10 units will be set aside for formerly homeless individuals or families. The building will also have 3,800 square feet of community space and a central green area. The borrower is an affiliate of The Community Builders Inc. Eastern Bank purchased the bond. The capital stack also includes $40 million in federal Low-Income Housing Tax Credits and a $15 million construction loan from Cambridge Savings Bank.
DEDHAM, MASS. — Local owner-operator WS Development has welcomed five new tenants to Legacy Place, a 580,000-square-foot retail power center located in the southwestern Boston suburb of Dedham that was recently recapitalized. The new tenants are Mexican restaurant Anna’s Taqueria, permanent jewelry brand Brave Daughters, women’s apparel retailer Aritzia, Asian restaurant Mecha Noodle Bar and fitness concept [solidcore]. All openings are slated for various points in 2025.
CHELSEA, MASS. — MassHousing has provided $10.6 million in financing for 375 Broadway, a 62-unit affordable housing project in Chelsea, a northeastern suburb of Boston. The financing consists of $7.7 million in permanent financing and $2.9 million in workforce housing financing. The developer, a partnership between Arx Urban and Boston Communities, will construct a 43-unit building from the ground up and rehabilitate a 19-building. Units will come in studio, one-, two- and three-bedroom floor plans and will feature a range of income restrictions. Construction is expected to be complete by the end of 2026.
NORWOOD, WOBURN AND BILLERICA, MASS. — JLL has brokered the recapitalization of a portfolio of four industrial flex properties totaling 217,217 square feet in the greater Boston area. The facilities are located in Norwood, Woburn and Billerica and were all fully leased at the time of sale to a combined seven tenants. A fund managed by Berkeley Real Estate Partners previously owned the portfolio and sold the assets to a new joint venture in which Berkeley is the managing member and Invesco Real Estate as an investment partner. Michael Restivo, Andrew Gray and David Coffman of JLL structured the recapitalization on behalf of Berkeley. Brett Paulsrud, Andrew Gray, Hugh Doherty and Ali Howard, also with JLL, arranged acquisition financing for the deal on behalf of Invesco.
WOBURN, MASS. — InBloom Autism Services has signed a 10,000-square-foot office lease in Woburn, a northern suburb of Boston. The provider of behavioral therapy services for young children relocated and expanded from its previous space on Constitution Way to the building at 12 Gill St., which according to LoopNet Inc. was built in 2000 and totals 182,603 square feet. Keith Page of Colorado-based brokerage firm CARR represented the tenant in the lease negotiations. Mike Truesdale represented the locally based landlord, Cummings Properties, on an internal basis.
SOMERVILLE, MASS. — Gantry, a commercial mortgage banking firm based in San Francisco, has arranged a $30 million loan for the refinancing of a 101,000-square-foot medical office building in Somerville, located just outside of Boston. The building at 40 Holland St. is known as Davis Square Center and was fully leased at the time of the loan closing, with regional provider Atrius Health serving as the anchor. Andy Bratt and Sean Kuang of Gantry arranged the five-year, fixed-rate loan, which carries a 30-year amortization schedule, on behalf of the owner, an undisclosed healthcare REIT. An unnamed insurance company provided the debt.
NATICK, MASS. — Regional design-build firm Dacon Corp. has completed a 35,000-square-foot life sciences project in Natick, a western suburb of Boston. The facility is the third in the area for ABI-LAB, a user that provides shared laboratory services for researchers in fields such as immunology, oncology, regenerative medicine, diagnostics and precision medicine. The newest facility houses 10 labs that range in size from 900 to 2,500 square feet and brings ABI-LAB’s total Natick footprint to roughly 112,000 square feet.
PEABODY, MASS. — Simon Property Group has completed the redevelopment of Northshore Mall, a shopping, dining and entertainment destination located north of Boston in Peabody. Among the new tenants that have either recently been announced or opened new stores/facilities at Northshore Mall are Life Time Fitness, which opened a 116,000-square-foot athletic resort with multiple pools and spa facilities, as well as Arhaus and L.L. Bean. Interactive gaming experience Immersive Gamebox is also now part of Northshore Mall’s lineup of entertainment users, as is Golf Lounge 18 and Gametime Lanes & Entertainment, which offers bowling and other games in addition to food and drink. Dick’s Sporting Goods will open a new store at the property in 2026 under its “House of Sport” brand, and construction is now underway on a 142-room hotel that will be operated under the Residence Inn by Marriott brand. Conventional retailers that have also recently joined the tenant roster include Lululemon, Hollister, It’Sugar and Sandmagination, while the food-and-beverage component now features the likes of Sweetgreen, Big Chicken and Honeygrow, with Vermont-based Skinny Pancake and ice cream chain Van Leeuwen scheduled to open in the coming weeks. Lastly, electric vehicle maker Tesla recently debuted a new showroom at …
CAMBRIDGE, MASS. — Newmark has brokered the sale of a life sciences building located at 359 Allston St. in Cambridge. According to LoopNet Inc., the building was constructed in 1987 and totals 7,517 square feet. The building was renovated in 2022 and was fully leased at the time of sale to Vaxess Technologies. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell, William Sleeper, Joseph Alvarado and Casey Valente of Newmark represented the undisclosed seller in the transaction and procured the buyer, King Street Properties.