Transwestern Arranges Financing for Boston Landing Component
- Mar 20, 2017
Boston—Transwestern arranged a short-term construction loan on behalf of NB Development Group for 80 Guest St. in Brighton, Mass., a part of New Balance’s $500 million Boston Landing mixed-use development. The financing, which was arranged through a syndication between U.S. Bank and TD Bank, will be used for the remaining construction on the property’s 265,000-square-foot office and laboratory section. The building also includes the Warrior Ice Arena, which serves as Boston Bruins’ new training and practice facility.
In order to secure the deal, Chris Skeffington and Andrew Stone of Transwestern worked alongside NB Development Group’s Managing Director Jim Halliday and New Balance’s Treasurer Kevin Doyle.
Boston Landing, which received Boston Redevelopment Authority’s green light in mid-2012, is the result of a joint venture of NB Development Group, New Balance’s real estate investment and development arm and HYM. Adjacent to New Balance’s LEED Platinum-certified, 250,000-square-foot headquarters, the massive project will soon be serviced by a new commuter rail station.
Boston Landing includes three office/lab buildings, a 175-key hotel, a 295-unit residential building, 80,000 square feet of retail, the hockey arena, a 70,000-square-foot basketball facility, a track and field sports center and 1.4 acres of landscaped open space. Transwestern also handles the development’s leasing and management.
Image courtesy of Transwestern