The Boston office of Goedecke & Co., LLC has recently closed an acquisition financing for Union Sq. Apartments located at 301 Union St. The property is an 89 unit apartment complex located on Union St., less than 2 miles from Rte. 495.
The Landings Real Estate Group, LLC acquired the property from an individual investor and will undertake an aggressive redevelopment, leasing and management program.
Goedecke principal Stephen Campbell worked exclusively on behalf of the borrower Christopher Bicho of Landings Properties, LLC, to secure the $7.15 million 5 year, fixed rate financing secured by the rental units.
Campbell said, "Goedecke & Co., LLC is pleased to arrange the financing for the Union Sq. Apartments on behalf of The Landings Real Estate Group. We provided the sponsor with a number of debt and equity options in order to expedite the closing of the acquisition."
Bicho of Landings Props. has been building and developing high-end residential communities and retail projects for the past 20 years. To date, Bicho has developed over $1.7 billion in single-family, townhouse and apartment residences and retail projects.