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Waterstone Properties Group Secures $22.22M Acquisition Loan For Braintree Marketplace Retail Property

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FINANCED
$22,220,000

Massachusetts

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Retail85,134 SF
Financed 03/14/2025
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Property Image
FINANCED

Waterstone Properties Group Secures $22.22M Acquisition Loan For Braintree Marketplace Retail Property

350 Grossman Drive

See Similar Deals
Retail85,134 SF
Financed 03/14/2025
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Summary

MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$261
Total Square Footage:85,134 SF
Transaction Type:Loan

The property involved in this transaction is a fully occupied retail asset located at 350 Grossman Drive in Braintree, MA. The asset spans 85,134 square feet and features national tenants like Nordstrom Rack and Ulta Beauty. The transaction includes acquisition financing amounting to $22,220,000.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $22,220,000
  • Address: 350 Grossman Drive
  • Market: Braintree, MA
  • Square Footage: 85,134
  • Landlord: Josh Levy & Neal Shalom - Waterstone Properties Group
  • Broker: Stephen Joseph & Stephen Hassenflu - Atlantic Capital Partners
  • Loan Type: Acquisition

The financing for this acquisition was arranged by Atlantic Capital Partners, highlighting the strong lender interest which led to a competitive financing process for the Braintree Marketplace. The deal was facilitated through the expertise of brokers Stephen Joseph and Stephen Hassenflu.

Details

FINANCED
IMAGE: Josh Levy, Neal Shalom, Stephen Joseph & Stephen Hassenflu DATE: 03/14/2025 ADDRESS: 350 Grossman Drive MARKET: Braintree, MA ASSET TYPE: Retail ~ SF: 85,134 LANDLORD: Josh Levy & Neal Shalom - Waterstone Properties Group (@WaterstonePG) BROKER: Stephen Joseph & Stephen Hassenflu - Atlantic Capital Partner (@AtlanticCapitalPartners) LOAN AMOUNT: $22,220,000 LOAN TYPE: Acquisition NOTE: Atlantic Capital Partners arranged $22.22 million in acquisition financing for Braintree Marketplace on behalf of Waterstone Properties Group. The 85,134 s/f, fully occupied retail property in Metro Boston features a national grocery tenant, Nordstrom Rack, and Ulta Beauty, with strong lender interest driving a competitive financing process.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$22,220,000.00

Monthly NOI$148,133.33
Monthly Debt Service$140,445.51
Change in Cash Flow$0.00
Refinance Proceeds$0.00