News: Financial Digest
Posted: April 8, 2016
Herz of Boston Realty Advisors arranges $9.94 million in financing
625 McGrath Highway - Somerville, MASomerville, MA The capital markets debt & equity finance team at Boston Realty Advisors (BRA) has secured senior debt financing for 625 McGrath Hwy., a 34-unit new construction apartment building. Nicholas Herz, managing director and partner at BRA, arranged the $9.94 million acquisition loan through TD Bank NA on behalf of the
Nick Herz, Boston Realty Advisorsbuyer. “We are pleased to have exceeded expectations in a volatile interest rate environment,” said Herz.
625 McGrath is a townhouse-style property located less than 3 miles from Downtown Boston. The development provides access to I-93 and public transportation to city via the MBTA Orange Line at Sullivan Station and Assembly Station. 625 McGrath is also positioned next to Assembly Sq., one of the largest mixed-use developments in Boston, offering retail, dining and entertainment amenities.
BRA is a Boston-based, privately held commercial real estate brokerage firm. Their full-service platform includes capital markets, tenant and landlord representation, property consulting as well as debt finance and equity placement activities.
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