Center Court Partners has secured a $133 million debt package to refinance a luxury condominium asset in Boston, Commercial Observer has learned.
Apollo Commercial Real Estate Finance provided the loan for Center Court’s The Archer Residences, a 62-unit condo building in Boston’s Beacon Hill neighborhood. Newmark’s Dustin Stolly and Jordan Roeschlaub, co-heads of Newmark’s debt and structured finance team, negotiated the deal alongside Chris Kramer and Nick Scribani, senior managing directors, and Donald Pavlov, an associate director.
“The lender community was tremendously receptive to this one, a testament of the consistent demand for luxury residences in Boston’s most prestigious neighborhood,” Stolly said in a statement. “By leveraging this demand, we were able to achieve a great execution for all parties involved.”
Officials at Apollo and Center Court Partners did not immediately respond for comment about the deal.
Located at 45 Temple Street, The Archer Residences comprises two joined buildings. The seven-story property boasts 24-hour white glove service and valet parking.
Andrew Coen can be reached at at email@example.com
Correction: A previous version of this article incorrectly named Prospect Ridge as a lender in the capital stack.