National Development Secures $83.02 Million Loan From Wells Fargo For Retail Center In Watertown

The property asset involved in this transaction is a 260,867-square-foot retail center located at 550 Arsenal Street in Watertown, MA. This Target-anchored retail center has secured acquisition financing amounting to $83,020,000 from Wells Fargo, reflecting its position in the busy Greater Boston retail market.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $83,020,000
• Lender: Wells Fargo
• Landlord: National Development
• Brokers: Henry Schaffer, Andrew Gray, Sam Wiesman & Joe Marinaro - JLL
• Loan Type: Acquisition

The deal was facilitated by the brokerage JLL, with brokers Henry Schaffer, Andrew Gray, Sam Wiesman, and Joe Marinaro involved in arranging the loan for National Development. The retail center's strategic location near Arsenal Yards highlights the strong demand in the local market.