Thibeault Development has closed its sale of two multifamily assets from its Boston portfolio for $38.5 million. The two properties, 153 Milk St. and 103 Arch St., were brokered by Colliers International. 153 Milk St. was converted from a Class B office space and offers a fully-leased retail component at ground-level. The five-story 103 Arch St. was purchased in 2012 and converted into a 21-unit apartment building. Anchored by Arch Street Dental on the lower level the property is connected to the 101 Arch St. office complex by a glass atrium. Both buildings are located in the heart of Boston’s Financial District. Colliers worked on behalf of the buyer to secure a $19.25 million, cross-collateralized, 20-year, fixed-rate loan through Principal Life Insurance Company to complete the deal.
