Boston, MA Cushman & Wakefield’s Equity Debt & Structured Finance Group has assisted in securing $43.5 million loan with Mesa West Capital for a short-term floating rate execution to maximize proceeds on luxury retail located at 201 Newbury St.
201 Newbury St. is a 24,716 s/f urban retail building centrally located in the Back Bay retail corridor. The property is 87% leased to luxury retailers including Anthropologie, Dr. Marten, Ted Baker and Timberland.
Trisha Connolly, Director of Cushman & Wakefield represented 201 Newbury – Prince, LLC in arranging the short-term loan.
“Our client sought the optimal balance of leverage and pricing which, in this case, meant a floating rate execution with Mesa West,” said Connolly. “We were able to structure the loan in order to best fit the needs of our client and provide them with excess proceeds.”
The Back Bay is a neighborhood with a lot of charm and personality drawing Bostonians and visitors year round. With the many shops on Newbury and Boylston St. to the fine dining establishments to the bustling night life, 201 Newbury St. is situated in the city’s most fashionable neighborhoods for retail.
“Cushman & Wakefield provided a seamless execution on a complicated transaction providing us with a great outcome that included cash out, flexible structure and a lower interest rate,” said Mark Keating, CFO of 201 Newbury – Prince, LLC
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory.