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Brookline’s S.S. Pierce Building Scores “Competitive” Refi
Colliers arranged the $19,000,000 refinancing of the S.S. Pierce Building, a mixed-use office and retail property located at 1330-1354 Beacon St. in Coolidge Corner, Brookline, MA. Originally built in 1898 for the S.S. Pierce Store, the 72,790-square-foot property now features street-level retail including Brookline Bank and three levels of office space. The new fixed rate financing replaces maturing life company debt Colliers secured in 2014.
The Colliers team, led by VP Patrick Boyle, co-chairman Kevin Phelan and senior financial analyst Rose Liu, worked on behalf of Capital Properties to secure the financing with a balance sheet lender.
“It was a pleasure to work alongside Capital Properties to secure a competitive refinancing for this property they have owned and operated for over 50 years,” said Boyle. “Office financing and general market conditions continue to be challenging, but we were able to identify and negotiate terms with a relationship lender based upon the strength of the asset’s positioning and operation, as well as its durable cash flow.”
Photo credit: Wangkun Jia.
- ◦Financing
