Bulfinch Completes Financing of Harvard Square Asset with Eastern Bank

NEEDHAM, MA - October 30, 2014 - The Bulfinch Companies, Inc., a private Greater Boston commercial real estate investment firm, today announced it has closed a long-term fixed rate loan with Eastern Bank on a retail and office building in Harvard Square. With close to $10 Billion in assets, Eastern Bank is the largest and oldest mutual bank in the country.

“We were pleased to be able to expand our relationship with Eastern Bank which dates back nearly two decades,” said Eric D. Schlager, Chief Executive Officer of Bulfinch. “Given the strong tenancy and enduring location in Harvard Square, we were able to complete the long-term fixed rate financing.  We very much look forward to continuing to grow our relationship with Eastern Bank.”

David MacManus handled the transaction for Eastern Bank.  Mr. MacManus stated: “We have tremendous confidence in both the Bulfinch Senior Management Team as well as the Harvard Square Asset.  We look forward to continuing to provide debt capital to Bulfinch for many years to come.”

About Eastern Bank
Founded in 1818 and based in Boston, Eastern Bank is the largest and oldest mutual bank in the country, with $9.5 billion in assets and more than 100 branches serving communities in eastern Massachusetts and southern and coastal New Hampshire. Eastern Bank offers banking, investments and insurance all under one roof, and prides itself on working harder to understand its customers’ needs so it can deliver these services in a committed and personal way.  Eastern Bank, which includes Eastern Bank Wealth Management and Eastern Insurance, is a recognized leader in corporate social responsibility and for its advocacy on behalf of a number of social justice causes. For more information, visit: www.easternbank.com, www.facebook.com/easternbank or www.twitter.com/easternbank.

About The Bulfinch Companies, Inc.

The Bulfinch Companies, Inc. is an entrepreneurial, value-added real estate investment firm
specializing in the acquisition, development, management, and
repositioning of commercial properties in Greater Boston. Since inception in 1936, Bulfinch, and its affiliates, have developed, acquired and repositioned over $1 Billion of commercial real estate. For more information, visit http://www.bulfinch.com.