(To read more on the debt and equity markets, click here.)
BOSTON-C. Talanian Realty, the owner of 137 Newbury St., has received $12 million to refinance the nine-story Back Bay retail and office property. The was arranged by locally based mortgage banking firm Fantini & Gorga with an undisclosed correspondent life insurance company lender.
Built in 1929, the 48,000-sf building, located one block from Copley Square and two blocks from the Boston Public Garden, is home to a number of retail and commercial businesses, including the owner's office. Among the tenants are the environmental consulting company BlueWave Strategies and several law firms, including Mackie Shea O'Brien.
Terms of the loan were not disclosed but Wayne Clough, managing director at Fantini & Gorga, says in a statement that the owner's reputation as a property manager helped it obtain "a combination of a great rate with very good terms."
A spokeswoman for the company tells GlobeSt.com that C. Talanian Realty is a long-time client of Fantini & Gorga.
Neither Clough nor officials from Talanian Realty could be reached for further comment in time for GlobeSt.com's deadline.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
