Boston-based Cushman & Wakefield has arranged $29.3 million in acquisition financing for an office building in Waltham.
The building at 850 Winter St. in Reservoir Woods office park is a three-story, 180,000-square-foot property is fully leased to several tenants including biopharmaceutical company Alkermes.
Cushman & Wakefield’s Equity, Debt & Structured Finance group arranged the financing as the exclusive advisor to a discretionary core real estate fund managed by GI Partners on behalf of the California Public Employees’ Retirement System. The fixed-rate financing was provided by CCRE.
Cushman & Wakefield’s managing director Jay Wagner and associate Timothy Hosmer arranged the financing.
"There has been a notable trend of spread tightening over the past two months, particularly for financings with strong borrower sponsorship and lower leverage," Wagner said in a statement. "We were extremely pleased with the ultimate execution on this transaction."



