The project consists of a 25,000 square foot building with Gap, Inc. as a retail tenant on the ground floor and apartments on the upper floors. The project was originally financed and developed using federal and state historic tax credits.
Murphy PC represented the owner in a $15M refinance transaction with a regional lender. Murphy PC negotiated loan documents, coordinated title, zoning and tenant due diligence matters. In addition, Murphy PC restructured the ownership entities to terminate the expired historic tax credit structure, which included negotiations with investors and Gap Inc.
Murphy PC is a law firm in Boston, Massachusetts representing, developers, investors, owners, asset managers, and sponsors in all aspects of real estate, including project development, acquisitions and dispositions, joint ventures, capital markets, commercial leasing, design and construction contracts, and title and escrow services. Our real estate capabilities include a variety of sectors and asset classes in small to middle-market segments, including, mixed-use, multi-family, office, retail, and restaurant.