Berkadia’s Dunn, Phaneuf and Falese Handle Sale and Secure $24.37M in Funding for The Bixby: NEREJ
Haverhill, Mass. Berkadia was involved in the sale and secured financing for The Bixby, a 128-unit high-rise multifamily property. Managing Director Adam Dunn and Senior Managing Director Chris Phaneuf of Berkadia Boston completed the sale on behalf of the seller, Virginia-based Blackfin Real Estate Investors. The buyer was Scully Company, based in Pennsylvania, and the deal closed on June 9.e.
“It was a pleasure working with Blackfin and Scully on this transaction,” Dunn said. “The entire Blackfin team has done a great job executing their business plan. This is Scully’s first acquisition to market and we are excited to see what the team has planned for The Bixby.
Berkadia Philadelphia senior general manager Robert Falese secured $24.379 million in permanent acquisition financing on behalf of the buyer. The ten-year loan was funded by Freddie Mac.
Located at 170 Washington Street, the Bixby offers studio, one-, and two-bedroom floor plans with built-in washers and dryers. Community facilities include a fitness center, residence hall and parking garage.
The property allows residents access to the train station, Swasey Field Park, and shops and restaurants near Washington St.