Transwestern Arranges Financing for Celtics' New Facility
📅 Wed May 03, 2017 - Northeast Edition #9
Part of the Boston Landing mixed-use development, 40 Guest St. is a planned 160,000-sq.-ft. (14,864 sq m) facility that will be the home of the Boston Celtics’ new, 71,000-sq.-ft. (6,596 sq m) training and practice facility.
Transwestern Consulting Group (TCG) has arranged a construction and permanent financing loan on behalf of NB Development Group for 40 Guest St. in Brighton, Mass. TCG Partner Chris Skeffington and Vice President Andrew Stone, working with NB Development Group Managing Director Jim Halliday and New Balance Treasurer Kevin Doyle, arranged the loan with East Boston Savings Bank, led by Vice President Ed Rich.
Part of the Boston Landing mixed-use development, 40 Guest St. is a planned 160,000-sq.-ft. (14,864 sq m) facility that will be the home of the Boston Celtics' new, 71,000-sq.-ft. (6,596 sq m) training and practice facility. The Auerbach Center at New Balance World Headquarters is named in honor of team legend Arnold “Red” Auerbach. The building also will feature two floors of Class A laboratory and office space totaling approximately 83,500 sq. ft. (7,757 sq m) and 5,700 sq. ft. (529.5 sq m) of retail space.
The project broke ground in November 2016 with completion expected in mid-2018. TCG provides leasing and property management services for Boston Landing.
“NB Development Group has redefined the term 'mixed-use' with Boston Landing,” said Skeffington. “The development includes lab and office space, retail, residential and hotel, as well as state-of-the-art professional sports training facilities. There's no other development like it in Greater Boston. East Boston Savings Bank has a deep appreciation for ownership's vision for Boston Landing and has been an excellent partner in helping bring it to life.”
Located minutes from downtown Boston and adjacent to New Balance's recently completed world headquarters, Boston Landing offers a transit-oriented, urban location with the parking, green space and economic advantage of a suburban campus environment. The development includes a variety of property types, including 650,000 sq. ft. (60,387 sq m) of office/laboratory space; an NHL regulation hockey arena that serves as the Boston Bruins practice facility; a 70,000-sq.-ft. (6,503 sq m) basketball practice and training facility for the Boston Celtics; a 175-room hotel; a world-class track and field sports center; a 295-unit residential apartment building; 80,000 sq. ft. (7,432 sq m) of amenity-driven retail; and approximately 1.4 acres of landscaped open space. In spring 2017, Boston Landing will add a newly constructed commuter rail station, providing one of the system's quickest trips into the city as well as one of the farthest-reaching lines to the suburbs.
For more information, visit transwestern.com
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