News: Financial Digest
Posted: March 13, 2008
Goedecke & Co. secures $10 million financing for 48,799 s/f One Davis Sq.
The Boston office of Goedecke & Co., LLC has recently secured permanent financing for One Davis Sq., a 48,799 s/f retail/office property centrally located in the Davis Sq./Tufts University section of the city.
Goedecke principals Shawn Herlihy and Christine Morrell worked exclusively on behalf of the borrower Kristopher Ogonowsky of Krisco Development, to structure the $10 million 25-year fully amortizing loan. The deal also features a 24-month forward commitment, and was funded by Genworth Life Insurance Company.
Herlihy said, "The One Davis Sq. deal was a unique transaction, not only did the borrower need a 25-year term, but also a 24-month forward commitment. Genworth was able to structure the perfect deal for the borrower."
One Davis Square features a new CVS on the first level, a new Boston Sports Club on the second floor, and 12,000 square feet of prime office space in the heart of Davis Square. The Davis Square Red line MBTA stop is located directly across from the property.
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