The Boston office of Holliday Fenoglio Fowler, L.P. (HFF) has secured more than $30 million in financing on behalf of WS Development Assoc. LLC for Bellingham’s Charles River Center and a New Hampshire retail center.
HFF directors Greg LaBine and Janet Krolman exclusively represented the borrower in the transactions. Goldman Sachs Commercial Mortgage Capital LP provided a fixed-rate refinancing for Charles River Center. WS Development Assoc. LLC, a real estate development and management corporation based in Chestnut Hill, owns more than 16 million square feet of retail space in the northeast.
Charles River Center is located at 245-249 Hartford Ave. The Class A property has 199,511 square feet of space and is anchored by Whole Foods. Other tenants at the center include Gap, Old Navy, Pier One Imports, Michaels’ Stores and Regal Cinemas.
Ocean Bank, a division of Peoples United Bank, provided a construction loan for Stateline Plaza in Salem, N.H.
Stateline Plaza is a 181,606-square-foot retail center that includes Lowe’s Home Improvement, NAMCO and a Sovereign Bank branch. Located at 539-541 Broadway Ave., the property is near the Massachusetts/New Hampshire state border, one mile from Interstate 93.
"These financings show that lenders are still active for high-quality sponsors with superior assets," said LaBine. "The local banking community will still fund new construction for retail transactions like Stateline Plaza that have some level of pre-leasing. The Charles River Center refinance received interest from a wide variety of lenders including banks, life insurance companies, CMBS lenders and debt funds."





