Brookline, MA Fantini & Gorga has placed $13 million in acquisition and repositioning funding for 1004-1016 Beacon St., a centrally-located retail space in the suburb of Boston. The financing was arranged by senior managing director Casimir Groblewski and analyst Colin Monahan on behalf of Lineage RE Brookline LLC.
The property is a half mile from Fenway Park, on the town’s main shopping and dining thoroughfare. The location is near the Saint Mary’s St. stop on the Green Line trolly, and surrounded by local restaurants and cafes, including Tatte Bakery & Café and Gyu- Kaku Japanese BBQ.
Groblewski said, “We were pleased to be able to structure a loan that met our client’s expectations. Besides the initial acquisition component, the lender agreed to support the repositioning and renovation of the subject. The result will be an excellent, attractive, and functional addition to the streetscape, complete with a European style pergola and seating area.”
According to Monahan, the lender was a major commercial bank based in Greater Boston.
Randolph, MA Sterling Trust has sold its Sterling Plaza neighborhood retail site located at 45 Mazzeo Dr. to The Shops at Randolph, LLC. The property is home to several restaurants, including the West End Grill, The Well, Outback Steakhouse and It’s Game Time Sportsbar.
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.