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BOSTON-The 25 Charles Street LLC entity that owns the Beacon Hill Bistro & Hotel at that address has obtained $4.6 million in first-mortgage financing from Bear Stearns Commercial Mortgage Inc. The funding is based on a 10-year term with a 30-year amortization schedule.

Bruce Whipple, VP in the New York City regional office of the Minneapolis-based NorthMarq Capital, arranged the loan. "The historic property generates a significant amount of income from the bistro," Whipple says. "Cash flow was underwritten for that component as a commercial lease." He says Bear Stearns has a specialty focus on boutique hotels and "offered competitive proceeds and terms in comparison with several other lenders," but Whipple did not disclose the interest rate.

The hotel portion of the 9,500-sf property contains 12 rooms and one suite. Published rates begin at $245 a night and reach to $365 a night for the suite.