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

Property Image
FINANCED
$83,020,000
Henry Schaffer
Andrew Gray
Sam Wiesman
+ 1

Massachusetts

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Retail260,867 SF
Financed 11/06/2025
the dealplayerscompscontact
Property Image
FINANCED

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

550 Arsenal Street

See Similar Deals
Retail260,867 SF
Financed 11/06/2025
Henry Schaffer
Andrew Gray
Sam Wiesman
+ 1
the dealplayerscompscontact
Contact now

Summary

MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$318
Total Square Footage:260,867 SF
Transaction Type:Loan

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:

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.

Players

Henry Schaffer
JLL
Henry Schaffer
16 deals$1.6B volume(617) 848-5859
BROKER
Andrew Gray
JLL
Andrew Gray
6 deals$779.1M volume
BROKER
Sam Wiesman
JLL
Sam Wiesman
2 deals$127.4M volume(781) 864-1115
BROKER
Joseph (Joe) Marinaro
JLL
Joseph Marinaro
2 deals$108.2M volume
BROKER
JLL
JLL
BROKERAGE
Wells Fargo
Wells Fargo
LENDER
ND
National Development
LANDLORD

Details

FINANCED
IMAGE: Henry Schaffer, Andrew Gray, Sam Wiesman & Joe Marinaro DATE: 11/06/2025 ADDRESS: 550 Arsenal Street MARKET: Watertown, MA ASSET TYPE: Retail ~ SF: 260,867 LENDER: Wells Fargo (@WellsFargo) LANDLORD: National Development BROKERS: Henry Schaffer (@TheSchafeShow), Andrew Gray, Sam Wiesman & Joe Marinaro - JLL (@JLL) LOAN AMOUNT: $83,020,000 LOAN TYPE: Acquisition NOTE: National Development secured $83.02M in fixed-rate acquisition financing from Wells Fargo for 550 Arsenal Street, a 260,867-sf Target-anchored retail center in Watertown, MA. JLL arranged the loan for the high-traffic property, which sits near Arsenal Yards and reflects strong demand in the tight Greater Boston retail market.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$83,020,000.00

Monthly NOI$553,466.67
Monthly Debt Service$524,742.87
Change in Cash Flow$0.00
Refinance Proceeds$0.00