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JLL Capital Markets Arranges $239M Loan For Development Site In Somerville, MA

10 Prospect Street & 50 Prospect Street
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This Development Site property located in MA received a loan of $239,000,000 about 3 years ago. The brokers of the deal were Frederic Wittmann, Daniel Kaufman, and Brett Paulsrud

Located in Somerville, MA, the development site at 10 Prospect Street and 50 Prospect Street has been involved in a recent closed transaction. The property spans a total of 2,400,000 square feet, making it a significant asset in the market. The transaction took place on February 1, 2021, involving various parties.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $239,000,000
  • Address: 10 Prospect Street & 50 Prospect Street
  • Market: Somerville, MA
  • Square Footage: 2,400,000

The landlord in this transaction was Union Square Station Associates (US2), represented by Greg Karczewski. The lending institution involved in the deal was Bank OZK, with Christopher Lawton serving as the representative. JLL Capital Markets acted as the broker in this transaction, with Daniel Kaufman, Frederic Wittmann, and Brett Paulsrud representing the interests of the parties involved.

This closed transaction, which took place at 10 Prospect Street and 50 Prospect Street, highlights the involvement of key individuals and companies. The deal showcased the collaboration between Union Square Station Associates (US2) as the landlord, Bank OZK as the lender, and JLL Capital Markets as the broker. The transaction amount of $239,000,000 reflects the significance of this deal in the market.

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Deals
  • Location
    10 Prospect Street, Somerville, Massachusetts, USA10 Prospect Street, Somerville, Massachusetts, USA
  • Loan Value
    $239,000,000$239,000,000
  • Asset Type
    Development SiteDevelopment Site
  • Parties
    3 Brokers, 1 Agency, 1 Lender3 Brokers, 1 Agency, 1 Lender

Agents

Frederic Wittmann

Frederic Wittmann

Deals1
Financed$239M

Daniel Kaufman

Daniel Kaufman

Deals2
Financed$535M

Brett Paulsrud

Brett Paulsrud

Deals14
Financed$2.3B

Agency

JLL

JLL

Agency
Deals5579
Volume$332.6B

Bank OZK

Bank OZK

Lender
Deals77
Volume$ 338.9B

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Deal Summary

LOAN IMAGE: Daniel Kaufman, Brett Paulsrud, & Frederic Wittmann DATE: 02/01/2021 ADDRESS: 10 Prospect Street & 50 Prospect Street MARKET: Somerville, MA ASSET TYPE: Development Site SF: 2,400,000 LANDLORD: Union Square Station Associates (US2) - Greg Karczewski LENDER: Bank OZK - Christopher Lawton BROKERS: Daniel Kaufman, Frederic Wittmann, & Brett Paulsrud - JLL Capital Markets LOAN AMOUNT: $239,000,000

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10 Prospect Street & 50 Prospect Street

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