Tuesday, August 27, 2013

HFF represents seller in sale of and arranges financing for buyer of Arsenal Mall and Harvard Vanguard Medical Associates Building in Watertown, MA


Rendering of The Arsenal Mall, Watertown, MA


Jonathan Bush Jr.
BOSTON, MA – HFF announced today that it has represented SPG Arsenal, L.P. and Arsenal HCHP, LLC in the sale of The Arsenal Mall, an adjoining retail building occupied by Golfsmith, and the Harvard Vanguard Medical Associates Building in Watertown, Massachusetts to BP Watertown Retail, LLC, a joint venture between Boylston Properties,

The Wilder Companies and Jonathan Bush, Jr. the CEO and co-founder of corporate neighbor athenahealth.

John H. Pelusi Jr.
               HFF also worked exclusively on behalf of the BP Watertown Retail, LLC to secure the acquisition financing, which was provided by RBS Citizens.  Loan proceeds were used to acquire the assets and provide capital for some near term lease-up.           

               The properties are located along the banks of the Charles River on Arsenal Street close to the Massachusetts Turnpike, North Beacon Street and Harvard Business School. 

John Fowler
The Arsenal Mall is 93 percent leased to specialty and outlet stores including Old Navy, Ann Taylor Factory Store, Forever 21, Sports Authority and Marshall’s, and the office building is fully leased to Harvard Vanguard Medical Associates on a long-term basis.

               The HFF team representing the seller was led by executive managing director and managing member John H. Pelusi, Jr., executive managing director John Fowler and senior managing director Coleman Benedict

Coleman Benedict
               The HFF team advising the borrower was led by senior managing director Fred Wittmann and director Lauren O’Neil. 

               “This presented a unique opportunity for the buyer to acquire an infill asset with great potential upside,” said Benedict.  “The competitive nature of the financing request given the high profile deal and strong sponsorship led to a great outcome for the borrower.”

               “RBS Citizens offered attractive terms and executed in a compressed timetable in a flawless manner,” added Wittmann.

               Boylston Properties Company, Inc. is an urban mixed-use developer based in Boston with experience in a wide range of successful projects including corporate headquarters, retail, office, residential, research facilities and mixed-use properties.  

Lauren O'Neil
Boylston Properties draws upon 30 years of development experience in Boston, the last 10 years of which have been concentrated in the Longwood Medical Area/Fenway Neighborhood of Boston.

 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

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