Cushman & Wakefield served as the exclusive advisor to affiliates of ASB Real Estate Investments in arranging a $56.75 million loan for The Peninsula, a 285,205 s/f apartment community in Dorchester Bay, Boston.
The ten-year financing was provided by Capital One Bank.
The Peninsula, which consists of two buildings (Peninsula I & II), features a total of 336 apartment units that offer luxury waterside and city views.
The property has a diverse selection of unit sizes and configurations, along with parking, a 1,500 s/f fitness center, outdoor heated swimming pool and grilling area, community room, electronic media lounge, and dry cleaning services.
The Peninsula is located adjacent to the John F. Kennedy Library at the University of Massachusetts Boston. Additionally, the property offers access to major metropolitan highways.
Steve Kohn, Dave Karson, Alexander Hernandez, Jay Wagner, Sridhar Vankayala and Stuart Kim of Cushman & Wakefield’s Equity, Debt and Structured Finance team represented the ownership.
“The property has strong in-place cash-flow, top-tier sponsorship and an excellent location, which led to a highly competitive process,” said Kohn, president of the Equity, Debt and Structured Finance group.