National Development Secures $190 Million Refinance From Wells Fargo For 495-Unit Multifamily Projects

The asset involved in this transaction is a multifamily property consisting of 495 units located at 217 Albany Street & 300 Harrison Avenue in Boston, MA. The deal includes a significant refinancing amount from a major lender, emphasizing its value within the local real estate market.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $190,000,000
• Units: 495
• Address: 217 Albany Street & 300 Harrison Avenue
• Market: Boston, MA
• Lender: Wells Fargo
• Landlord: National Development
• Broker Representatives: Tom Rugg, Thomas Traynor, Peter Griesinger & Kayla Kaloostian - CBRE
• Loan Type: Refinance

This refinancing transaction was secured by National Development for its Ink Block and 7INK multifamily projects. The deal was facilitated by brokers from CBRE, who played a crucial role in the negotiation and execution of the financing arrangement with Wells Fargo.