Babcock Place, a newly constructed 45-unit multifamily property located in the charming Coolidge Corner neighborhood of Brookline, MA has recently secured $16 million in refinancing from Brookline Bank. The five-story building offers a variety of units including studios, 1-bedroom, 2-bedroom and 3-bedroom options along with convenient amenities such as a rooftop deck and on-site parking for residents. Currently fully leased out to tenants, this property is managed by developer Sam Slater of Tremont Asset Management LLC.
Leading the financing efforts was Patrick Boyle and his team at Colliers who worked closely with Tremont Asset Management LLC to secure favorable fixed-rate terms for the refinancing. According to Boyle: “The development team at Tremont has created an exceptional rental community that stands out in its historic neighborhood due to its thoughtful design and layout.” He further added that their success combined with Brookline Bank’s customized lending approach resulted in securing an excellent permanent loan despite challenging market conditions.
The article originally appeared on Connect CRE website.
