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| 1440 Beacon Street Apartments, Coolidge Corner Neighborhood, Brookline, MA |
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| Coleman Benedict |
BOSTON, MA – HFF announced it has closed the $50.15 million
sale of and arranged $21.2 million in acquisition financing for a 136-unit
multi-housing building in Brookline, Massachusetts.
HFF
marketed the property for the seller, a joint venture between Westbrook
Partners and Nordblom Company.
An
affiliate of Visconsi Companies, Ltd. purchased the property and will employ
Samuels & Associates for property and asset management.
Additionally, HFF
secured a 15-year, fixed-rate loan for Visconsi Companies through New York Life
Real Estate Investors.
The
property is located at 1440 Beacon Street in the Coolidge Corner
neighborhood of Brookline, approximately 4.2 miles west of downtown
Boston.
The transit-oriented
multi-housing community has direct access to the MBTA’s (Massachusetts Bay
Transit Authority) Green Line, which provides easy access for residents to
Boston’s Back Bay, Financial District and Cambridge.
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| Ben Sayles |
The building is comprised of primarily one-bedroom
apartments as well as 32 studio units and includes amenities such as garage
parking with direct access, patio area with gas grills and seating areas, and
fitness center.
The
HFF investment sales team representing the seller was led by director Mark
Campbell, senior managing director Coleman Benedict, director Ben
Sayles and real estate analyst Jackie Meagher.
The HFF debt placement team
representing the borrower was led by managing director Greg LaBine.
“1440
Beacon Street is an irreplaceable asset,” Campbell said. “It offers Green Line access directly in
front of the building, the surrounding amenities of the Coolidge Corner
neighborhood and proximity to Boston’s major economic hubs, all within one of
Boston’s desirable and affluent communities.”
Regarding the sale, he added, “It was a pleasure to work on
a transaction involving groups of such high caliber.”
For a complete copy of the company’s news release, please
contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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