Newglo Associates 284 has secured a $12 million loan for the refinancing of an 18,942 square-foot office and retail property in Boston, MA. Built in 1899, the building is located at the corner of Newbury and Gloucester Streets in Boston’s historic Back Bay. The property includes an office over retail building with four above grade floors and one floor partially below grade. American shoe manufacturer, Frye Retail, and skincare and spa treatment center, Skin Spa New York, currently lease the asset. Washington Trust’s Commercial Real Estate Group provided the funding.
“This versatile property is well positioned on Newbury Street and attracts a wide variety of tenants, including Frye’s flagship retail presence which certainly provides some cachet,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “We were very pleased to continue working with the principals of Newglo on this exciting project.”
