JLL Capital Markets Arranges $239M Loan For Development Site In Somerville, MA

Located in Somerville, MA, the development site at 10 Prospect Street and 50 Prospect Street has been involved in a recent closed transaction. The property spans a total of 2,400,000 square feet, making it a significant asset in the market. The transaction took place on February 1, 2021, involving various parties.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $239,000,000
• Address: 10 Prospect Street & 50 Prospect Street
• Market: Somerville, MA
• Square Footage: 2,400,000

The landlord in this transaction was Union Square Station Associates (US2), represented by Greg Karczewski. The lending institution involved in the deal was Bank OZK, with Christopher Lawton serving as the representative. JLL Capital Markets acted as the broker in this transaction, with Daniel Kaufman, Frederic Wittmann, and Brett Paulsrud representing the interests of the parties involved.

This closed transaction, which took place at 10 Prospect Street and 50 Prospect Street, highlights the involvement of key individuals and companies. The deal showcased the collaboration between Union Square Station Associates (US2) as the landlord, Bank OZK as the lender, and JLL Capital Markets as the broker. The transaction amount of $239,000,000 reflects the significance of this deal in the market.