Boston, MA EagleBridge Capital has arranged permanent mortgage financing in the amount of $9 million for 33 Broad St.
The mortgage financing was arranged by EagleBridge principal Ted Sidel, who stated that the loan was provided by a leading regional financial institution.
33 Broad St. is an 11-story 40,500 s/f office building located in the Financial District. The property has been completely updated and is served by three elevators.
The building is 100% leased. State Street Eye Health and Expresso Love occupy the first floor retail space. The upper floors are occupied by 18 office tenants including law firms, accountants, consultants, foundations, financial advisors, real estate developers, mutual funds, and money managers.
33 Broad St. was constructed in 1904. The building style is early Twentieth Century Renaissance Revival and is included in the National Register of Historic Places as part of the Custom House District. 33 Broad St. was designed by the leading architectural firm of its day, Shepley Rutan and Coolidge, the predecessor of the noted architectural firm Shepley Bullfinch.
Sidel said, “Based on the quality of the property we were able to provide non-recourse financing featuring a sub 3% rate for its entire 10 year term.”
EagleBridge Capital is a New England based independent mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for industrial, office, and R & D buildings, shopping centers, apartments, hotels, condominiums and mixed-use properties as well as special purpose buildings.
EagleBridge is a founding member of Commercial Real Estate Capital Advisors, a group of 11 independent commercial real estate finance firms located throughout the U.S.