Chapel Business Partners, LLC Secures $22.5M Loan In Newtonville

The loan arranged by Mike Marcone of Marcone Capital, Inc. is for two properties known as Chapel Business Center and the Watertown Portfolio in Watertown, Mass. Chapel Business Center is a two-story brick and beam office complex spanning 78,187 square feet. The property is fully leased to 15 tenants and features amenities such as a gym and conference center. Located at 59-85 Chapel St., it is strategically positioned near downtown Boston and Logan International Airport. The Watertown Portfolio includes two buildings totaling 43,300 square feet, with one building being a flex building and the other an office building.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $22,500,000.00
• Address: 165 Dexter Rd, Newton, MA, 02460
• Market: Newtonville
• Borrower's Rep: Mike Marcone - Marcone Capital, Inc.
• Borrower: Chapel Business Partners, LLC
• Lender: Washington Trust</li>

Mike Marcone, the borrower's representative, facilitated the financing provided by Washington Trust for the properties. The borrower has invested significantly in property and tenant improvements across both Chapel Business Center and the Watertown Portfolio. The Watertown Portfolio, managed by KS Partners, LLC, continues to attract tenants due to its strategic location within a growing submarket of Boston.