HFF places loan with Brookline Bank for six-property office portfolio in Greater Boston

    Part of the Newton, MA and Needham, MA six-property office portfolio

BOSTON, MA – HFF announced today that it has placed a first mortgage loan with Brookline Bank for a six-property, 132,700-square-foot office portfolio in Newton and Needham, Massachusetts.

Greg LaBine

                HFF worked on behalf of the sponsor, The Wingate Companies to secure the fixed-rate loan.  Loan proceeds were used to retire maturing debt on the property.

                The portfolio consists of five buildings along Wells Avenue in Newton (70, 100, 150, 160 and 189 Wells Avenue) plus 72 River Park Street in Needham.

 The Wells Avenue properties are bordered by the Charles River to the west and Mount Ida College to the east, and are close to Interstate 95 and State Route 9 approximately eight miles south of downtown Boston. 

72 River Park Street is visible from State Route 128 about two and one half miles from the Newton properties.  

  Notable tenants include Buyer Advertising, NECN, Wingate, J.H. Albert, Friedman & Suvalle and Telamon Insurance.

                The HFF team representing The Wingate Companies was led by director Greg LaBine.

                “Wingate has done a superior job in keeping the properties well leased throughout their ownership of the portfolio,” said LaBine.  “Their high tenant retention rate coupled with the portfolio’s excellent location made this an attractive lending opportunity for Brookline.”

 For a complete copy of the company’s news release, please contact:

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

www.WingateCompanies.com