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Mesa West Capital funds $81m JV loan to refinance Boston-area multifamily community
Transactions - APRIL 4, 2024

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Mesa West Capital funds $81m JV loan to refinance Boston-area multifamily community

by RELEASED

Mesa West Capital has provided a joint venture between affiliates of Toll Brothers and Carlyle with an $81 million loan to refinance Emblem 120, a 289-unit mid-rise multifamily property in the Boston suburb of Woburn, Mass.

Developed and delivered in 2022 by Toll Brothers Apartment Living, the rental subsidiary of Toll Brothers, the six-story property features a mix of studio, one-, two- and three-bedroom residences. Some amenities at Emblem 120 include a central courtyard, outdoor pool with cabanas, work-from-home space, rooftop terrace and lounge, and a multi-level fitness center. At street level, the property also features 9,390 square feet of retail and access to surface and covered parking.

Located at 120 Commerce Way, Emblem 120 benefits from numerous demand drivers, including a strong regional employment base, a vast array of nearby retail and dining options and walkability to Anderson Regional Transportation Center, a transit hub providing commuter access to do

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