Brian Sheehan and Ted Sidel of EagleBridge Capital have arranged mortgage financing in the amount of $11.6 million for 1285 Beacon St., located in the Coolidge Corner section of the town. The financing was placed with Shem Creek Capital.
1285 Beacon St. is a two-story 36,350 s/f retail building with an architectural block and granite façade and two levels of underground parking with 50 spaces. The building's two stories and the two levels of underground parking are served by an elevator.
Tenants include Staples, Bodyscapes, a fitness and health club, and The Meat House, a butcher shop. 1285 Beacon, completed in 2008, is one of the only completely new retail buildings to be built in the Coolidge Corner district in the last decade. The building replaced a gas station which had occupied the site on the corner of Beacon St. and Charles St. for many years.
Located within the immediate area are stores, restaurants, office buildings, banks, apartment buildings and condominiums. The MBTA Cleveland Circle-Beacon St. Green Line which connects Brookline to Boston has a stop on Beacon St. near the entrance to the building.
Sheehan and Sidel said, "We were able to come up with an innovative financing structure which allowed the owner maximum flexibility. We are pleased to have played a part in this very innovative project."
EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for retail buildings, shopping centers, condominiums, apartments, office, industrial, and r & d buildings, hotels, and mixed use properties as well as special purpose buildings.