Cambridge Trust Provides $12.9M Loan For Mixed-Use Property In Brighton, MA

The property involved in the transaction is a 115,551-square-foot, mixed-use asset located at 15 Guest St in Boston, MA, 02135. The property was sold for $18.4 million, and an acquisition loan of $12.9 million was secured from Cambridge Trust Co. The two-story building, constructed in 2000, is part of the Boston Landing development. It is 86 percent leased and houses tenants such as Newbury Comics, NB Fitness Club, and a telecommunications company. Additionally, the property includes a multi-story, 126,538-square-foot parking garage.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $18.4 million
• Market: Brighton
• Borrower's Rep: Lauren O’Neil(JLL)
• Lender: Cambridge Trust
• Loan Amount: $12,900,000.00

JLL represented the seller, New Balance Development Group, and facilitated the transaction with the buyer, R.J. Kelly Co. The property is part of the Boston Landing development, which is home to the New Balance global headquarters and Warrior Ice Arena. The deal was finalized with financing secured by Lauren O'Neil and Brett Paulsrud from JLL. The tenant roster at 15 Guest St. includes various businesses, making it a diversified mixed-use property in a prime location.