Construction Loan for 80 Guest St. Provided by Syndication of U.S. Bank and TD Bank
Transwestern today announces it arranged a construction loan on behalf of NB Development Group for 80 Guest St. in Brighton, Massachusetts. Part of the Boston Landing mixed-use development, 80 Guest St. is a 265,000-square-foot office and laboratory building that also includes the Warrior Ice Arena, which serves as the Boston Bruins’ new, state-of-the-art training and practice facility. NB Development Group co-developed Boston Landing with HYM Investments.
The short-term construction financing was arranged through a syndication between U.S. Bank and TD Bank. Transwestern Partner Chris Skeffington and Vice President Andrew Stone worked on the transaction with Jim Halliday, managing director at NB Development Group, and Kevin Doyle, treasurer at New Balance. Transwestern also provides leasing and property management services for Boston Landing.
“Led by New Balance Development’s seasoned team of real estate professionals, 80 Guest St. is a very dynamic project in what we consider to be the most unique mixed-use development in Greater Boston,” said Skeffington. “NB Development and the collective bank group are proving to be an outstanding partnership to take the project through the remaining construction and lease-up phase.”
Located minutes from downtown Boston and adjacent to New Balance's new world headquarters, Boston Landing offers a transit-oriented, urban location with the parking, green space and economic advantage of a suburban campus environment. The development includes a variety of property types, including three new office/lab buildings; an NHL regulation hockey arena; a 70,000-square-foot basketball practice and training facility that will become home of the Boston Celtics; a 175-room hotel; a world-class track and field sports center; a 295-unit residential apartment building; 80,000 square feet of amenity-driven retail; and approximately 1.4 acres of landscaped open space. In spring 2017, Boston Landing will add a newly constructed commuter rail station, providing one of the system's quickest trips into the city as well as one of the farthest-reaching lines to the suburbs.
ABOUT NB DEVELOPMENT GROUP
NB Development Group is a commercial real estate company based in Boston, MA. The group’s professionals bring Boston-based experience in the fields of development, permitting, construction management, asset management, leasing, and marketing. NBDG is currently managing the development of Boston Landing, a mixed-use project located along the Massachusetts Turnpike in Brighton, MA. Through expert entitlement and permitting strategies, Boston Landing is transforming a vacant industrial area into a vibrant, transit-oriented district. Boston Landing encompasses more than 15 acres of land and will include uses such as office, retail, hotel, recreation, parking, commuter rail, and residential with a total build-out of more than 2.5 million square feet.
ABOUT TRANSWESTERN
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, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, 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. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Boston office, follow @TranswesternBOS.
