Bulfinch Closes Long Term Non-Recourse Loan Secured by New Chardon Street Property
BOSTON, MA – December 3, 2018
Bulfinch, a private real estate investment, development and management firm, today announced that it closed on a long-term non-recourse loan secured by The Atlantic Charter Building with Lincoln National Life Insurance Company. The 15-year loan carries an attractive fixed interest rate and represents the firm’s third loan with Lincoln.
The building consists of six floors and totals approximately 111,000 square feet of office and medical space located in the heart of Government Center at 25 New Chardon Street in Boston, MA. Owned by an affiliate of Bulfinch, the building was originally developed in 1968 and expanded and fully renovated in 1999. The property is 100% leased with Atlantic Charter Insurance Company, United States Postal Service and Partners HealthCare serving as major tenants.
“This new financing demonstrates the quality of our portfolio as well as our excellent access to long-term capital at highly attractive rates,” said Eric Schlager, CEO at Bulfinch. “Bulfinch takes great pride in our established and longstanding lender relationships and we look forward to completing more transactions in the near future with Lincoln.”