News: Retail
Posted: December 1, 2015
CBRE/NE assists Samuels & Associates for $43.9 million financing in Hingham
The Launch at Hingham Shipyard - Hingham, MAHingham, MA The CBRE/New England debt & structured finance team sourced a joint venture partner, Principal Enhanced Property Fund, L.P. (PEPF), managed by Principal Real Estate Investors (PrinREI), and first mortgage financing in the amount of $43.9 million from MetLife, for The Launch at Hingham Shipyard at 18 Shipyard Dr.
CBRE/NE’s Kyle Juszczyszyn, Chris Coutts and Taylor Shepard assisted Samuels & Associates, Legacy Capital Partners and their affiliates in sourcing both the joint venture partner and the financing for the property.
“We are pleased to have assisted Samuels & Associates, Legacy Capital Partners and their affiliates in sourcing PEPF, managed by PrinREI, as the joint venture partner for The Launch at Hingham Shipyard. This joint venture is an ideal partnership, combining premier local expertise with an exceptional institutional platform. After running a competitive marketing process for the permanent financing, we identified MetLife as the lender, which was able to provide highly competitive financing terms and rate lock ahead of the scheduled closing date,” said Juszczyszyn.
The Launch at Hingham Shipyard is a 245,000 s/f waterfront destination mixed-use center that is currently 95% leased. Samuels & Associates built the Launch in 2009 as a part of a master plan for Hingham Shipyard. Comprised of shopping, dining, entertainment and luxury living, the Shipyard currently includes a 235-unit apartment complex and a 150-unit for-sale townhome development, with more housing units planned for the near future.
Tags:
Retail
MORE FROM Retail
Retail
The Landing at Hyannis expands with additional retailers
Hyannis, MA The Landing at Hyannis continues its transformation with three new businesses joining its roster of retail and dining options. These brands, making their debut on Cape Cod, include fashion retailer Nordstrom Rack, physician-owned medical spa SkinMD, and eyewear retailer Warby Parker.
Quick Hits
Columns and Thought Leadership
Village centers and local retail: What the market wants - by Carol Todreas
Good news! Brick and mortar is alive and well. Many malls are coming back. Americans are flocking to Europe to walk, shop, eat, and enjoy much needed vacations. Visitors return and talk about the pleasures of walking and shopping in local shops in cities and towns all over Europe.
Placemaking and retail in 2024 - by Carol Todreas
Placemaking. That is the word for 2024. While the concept has historical precedence in urban development, it became part of our current culture in the 1960’s when urbanists started to think about cities for people, not just cars.
Keeping the “there” there - by Carol Todreas
New zoning is a big topic for many communities. Whether it is to comply with the 2021 MBTA legislation calling for more multi-family housing in locales with access to T stations or to address other pressures from public-private entities, zoning for multi-family housing is believed to be a major part of the solution to the housing crisis.
Reimagining retail for the downtown - by Carol Todreas
Before COVID-19, downtown retail had been sliding downwards. A few restaurants and stores were hanging on, but the trajectory was headed south. Now with post- COVID-19 lifestyle changes, old-style retail anywhere has lost its market appeal.