Colliers Secures $62M Refi for East Boston Apt Community

Colliers has arranged a $62 million refinancing for Addison, a 230-unit apartment community in East Boston, MA. The Colliers team, including Jeffrey Black, Bryan Koop, Sean Burke, Kevin Phelan, and Matthew Lombardi, secured the loan on behalf of a joint venture between Redgate Capital Partners, North River Company, and ELV Associates, Inc. CrossHarbor Capital Partners provided the refinancing.

Delivered in Q4 2021, Addison features amenities including an outdoor pool, work-from-home offices, an industrial kitchen, a basketball court, multiple lounges, and a maker space equipped with 3D printers and art supplies. The property offers access to Route 1A and the MBTA Blue Line’s Orient Heights T station, providing direct connectivity to Logan International Airport and Downtown Boston.

“The development team’s experience, coupled with their attention to detail when designing Addison, comes through in every aspect of the building’s identity,” said Bryan Koop. “The debt market showed robust interest in this opportunity, highlighting the depth of liquidity pursuing core multifamily with top-tier sponsors.”

Connect

Inside The Story

Bryan Koop

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.

Order Reprints