CBRE/New England’s debt and structured finance team has secured nearly $50 million in acquisition financing for several Boston properties.
The company secured $21.43 million for the Summer Street portfolio, comprised of 71, 77 and 87 Summer St. in Boston, from Brookline Bank and $27.8 million for 38 Chauncy St. from Rockland Trust. Both assets offer office space with ground-floor retail.
CBRE/NE’s Carlos Febres-Mazzei, Kyle Juszczyszyn, Chris Coutts, Alex Bradley and Taylor Shepard arranged the financing on behalf of Synergy Investments and DivcoWest.
The three-building Summer Street portfolio is 97 percent occupied and totals approximately 90,070 square feet, with 11,100 square feet of retail occupied by Wendy’s, Bank of America and Leeba Salon.
The property at 38 Chauncy St. recently underwent significant capital improvements with several million invested in base building enhancements to the heating and cooling systems, elevators and lobby.
"The Summer Street Portfolio and 38 Chauncy Street are ideal investment opportunities in today’s marketplace; both Brookline Bank and Rockland Trust recognized the potential and provided attractive, flexible financing solutions for our clients," Febres-Mazzei said in a statement. "The timeline to close was extremely tight and these lenders were creative and highly responsive on both transactions."



