The Boston office of Goedecke & Co., LLC recently secured permanent financing for One Davis Square, a 48,799 s/f retail/office property centrally located in the Davis Square/Tufts University section of Somerville.
Goedecke principals Shawn Herlihy and Christine Morrell worked exclusively on behalf of the borrower Kristopher Ogonowsky of Krisco Development to structure the $10 million, 25-year fully amortizing loan. The deal also features a 24-month forward commitment, and was funded by Genworth Life Insurance Company.
Shawn Herlihy of Goedecke said, "The One Davis Square deal was a unique transaction, not only did the borrower need a 25-year term, but also a 24-month forward commitment. Genworth was able to structure the perfect deal for the borrower."
One Davis Square features a new CVS on the first level, a new Boston Sports Club on the second floor, and 12,000 s/f of prime office space in the heart of Davis Square. The Davis Square Red line MBTA stop is located directly across from the property.
Goedecke & Co., LLC is one of New England's largest privately-owned commercial mortgage banking companies, with offices in Boston, Providence, R.I., and Westport, Conn.