Transwestern | RBJ arranges $78 million in financing in two transactions for NB Development and NorthBridge CRE
15 and 20 Guest Street - Brighton, MABrighton, MA Transwestern | RBJ arranged two financing transactions totaling $78 million on behalf of NB Development Group LLC and NorthBridge CRE Advisors LLC.
The firm arranged a 10-year, long-term debt with Wells Fargo for NB Development Group’s refinancing of 15 and 20 Guest St. The two buildings total 359,000 s/f of office, flex and retail space and are part of Boston Landing, a 1.76 million s/f, mixed-use development that includes the new corporate headquarters for New Balance. Transwestern | RBJ Partners Chris Skeffington, Steve Purpura and Chris McCauley, as well as vice president Andrew Stone, worked on the transaction with Jim Halliday, managing director at NB Development, and Kevin Doyle, treasurer at New Balance.
“The refinancing of 15 and 20 Guest St. gives us greater flexibility to focus our resources on the larger Boston Landing development,” said Halliday. “The combination of commercial, high-end residential, retail, sports and hospitality space, coupled with credit-quality tenants, makes Boston Landing the premier mixed-use development in all of Greater Boston.”
For NorthBridge, Transwestern | RBJ placed a 10-year acquisition loan with Blue Hills Bank for the purchase of a two-building portfolio located at 68 – 78 Elm St. in Hopkinton, Mass. Skeffington, Stone and vice president Roy Sandeman arranged the financing, working with Dean Atkins and Greg Lauze, principals at NorthBridge.
“The current economic environment is very dynamic, complicating equity placement and structured financing activities,” said Skeffington. “These financing projects, while certainly very different, both benefited from involving strong, stable assets.”
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in agency leasing, management, tenant advisory, capital markets, research and sustainability services, their fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. They leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate.
NorthBridge CRE Advisors, LLC is a Boston based commercial real estate investment and advisory firm co-founded by managing partners Greg Lauze and Dean Atkins. The firm focuses on principal real estate investing in the Greater Boston/New England area and real estate advisory services for local, national and international clients. Since its formation in the fall of 2014 the firm has acquired over $50 million in real estate assets and completed numerous advisory assignments ranging from small Massachusetts based businesses to major Fortune 500 companies. Lauze has a background in real estate acquisitions, asset management and capital fundraising previously with private equity real estate firms, Colony Capital in Boston and The Blackstone Group in New York. Atkins has a background in corporate real estate law, commercial real estate brokerage, and real estate consulting. He was previously was an attorney in the commercial real estate group at Mintz Levin before most recently leading National & International Accounts at Transwestern | RBJ.