CBRE/New England's capital markets team secured a loan of $3.3 million to finance 135 Beacon Street, a multifamily brownstone building located in the historic Back Bay neighborhood of the city.
CBRE/NE's first vice president of multi-housing debt & structured finance, John Kelly, worked on behalf of the owner, J.F. Perroncello, to secure the financing.
"It was a pleasure working with the sponsor. We were able to quickly work through the process of pairing our client with the right lender and close the loan on a very tight time frame," said Kelly.
"Through CBRE/NE's multifamily debt team I was able to diversify my banking relationships," said Perroncello. "CBRE/NE's strong relationships within the lending community facilitated a smooth and quick process, while securing the best terms available."
The building, located half a block from the Public Garden and a short walk from the Common, is a 5-story building originally constructed in 1860 and renovated in 1999. The building includes parking and has a long history of excellent occupancy.