Mortgage Observer

Cushman & Wakefield Advises on $57 Million Capital One Loan for Boston Apartment Community

The Peninsula at 401 Mt. Vernon Street

Capital One has provided a $56.8 million loan to affiliates of Bethesda-based ASB Real Estate Investments for The Peninsula, a 285,205-square-foot apartment community in Dorchester Bay, Boston, Mortgage Observer can exclusively report.

The 10-year loan is “a delayed refinancing of a loan that was paid off a number of quarters ago,” Robert Bellinger, president and CEO of ASB Real Estate Investments, said in an email exchange. He declined to give details on the loan’s interest rate. Capital One did not return requests for comment. Read More

Sales Beat

Thor Equities and ASB Real Estate Investments Pay $96.5 M for Meatpacking Building

875 Washington Street

Thor Equities and ASB Real Estate Investments’ Allegiance Real Estate Fund have purchased 875 Washington Street in the Meatpacking District for $96.5 million.

The 60,000-square-foot, five-story building, between 13th and 14th Streets, features office and retail space and is located across the street from the High Line Park, a main driver in the neighborhood’s assent as one of the city’s most-travelled retail destinations.

“The Meatpacking District is the place to be in the fashion world, and as purveyors of high-end retail real estate, it is only fitting that we continue to expand our presence here,” said Joseph Sitt, CEO at Thor Equities, in a statement. “Situated among many of the world’s best nightlife, dining, and shopping outposts, 875 Washington is truly in the heart of the excitement and growth of Manhattan.” Read More