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Finance
Posted: January 10, 2020
Newmark Knight Frank arranges $173 million loan to refinance the Archer Residences on behalf of Center Court Mass, LLC
Boston, MA On behalf of Center Court Mass, LLC, Newmark Knight Frank (NKF) has arranged a $173 million loan to refinance the Archer Residences, a 62-unit luxury condominium project in Beacon Hill. The loan was provided by Apollo Global Management and RCG Longview, a CenterSquare Co.
The NKF team was led by Dustin Stolly and Jordan Roeschlaub, vice-chairmen, and co-heads of the New York debt & structured finance team. Nick Scribani, Chris Kramer, Brett Wilburn, and Drew Ahlers also assisted in arranging the financing.
Featuring designs from architecture firms, LDa and The Architecture Team, Inc., the Archer Residences joins two historically significant buildings to create the first fully amenitized, full-service luxury condominium in Beacon Hill. With 24-hour white-glove services and designed indoor and outdoor spaces for health, wellness, and socializing, the property offers an entirely new way to experience the city’s most desirable neighborhood. Each condo unit features a unique floorplan with luxury finishes and designs. Units feature the original 9 to 16-foot ceiling heights and full-wall windows which award living areas with an abundance of natural light.
“By gutting the space and redeveloping the two historic buildings, Archer Residences is able to offer ultra-luxury residences and an unparalleled amenity package while maintaining the neighborhood’s historical setting. It’s a truly unique asset,” said Stolly.
“The team did a great and thoughtful job on this project and we’re confident it’s going to be a success. Beacon Hill is one of the most sought-after neighborhoods in Boston and between the scenic cobblestone streets, the abundance of retail/dining options, and its accessibility – it is an ideal location for a luxury product,” said Roeschlaub.
Center Court Mass is a fully integrated owner, operator, and developer of commercial real estate. The firm’s principals have more than 25 years of experience investing, developing, and managing over 14 million s/f of commercial space and 26,000 residential units. Center Court Mass has acquired a diversified real estate portfolio that includes residential, office, industrial, and retail.
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Finance
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