JLL Capital Markets announced that it has arranged a $13 million refinancing for 313 Washington Street, an 80,902-square-foot office and retail building in Newton, Massachusetts.
JLL worked on behalf of the borrower, Grander Capital Partners, to secure the five-year, fixed-rate loan with Eastern Bank.
313 Washington Street is located just off Interstate 90/The Mass Pike in Newton, approximately seven miles west of Downtown Boston. This location provides tenants with convenient access to Boston’s Back Bay, Downtown and Seaport areas as well as Cambridge and Boston’s affluent suburbs. Completed in 1998, the asset features creative office space and ground level retail that is leased to more than two dozen tenants, including the ever-popular Buff’s Pub.
JLL’s Capital Markets team representing the borrower was led by Director Martha Nay.
“We were delighted to work on the refinancing of 313 Washington Street,” Nay said. “Newton Corner has been white hot in recent months, making the property a sound financing for Eastern Bank, who will undoubtedly be a strong lender for Grander in the years to come.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.