Boston

A $35-million refinancing for 50 and 60 Sylvan Rd., two office/R&D buildings within the Reservoir Woods campus that are fully leased to Verizon Laboratories and total 200,928 square feet in Waltham, MA, has been arranged by the Boston office of HFF. A team led by Riaz Cassum and Greg LaBine secured the fixed-rate loan through PNC Bank on behalf of the borrower, an entity controlled by Davis Marcus Partners and Prudential Real Estate Investors. Proceeds are being used to replace a maturing loan.

The Grossman Cos. has closed on the discounted payoff of an existing $14.3-million CMBS loan on Braintree Executive Park, a two-building office complex in Braintree, MA. The purchase price was $6.9 million, or $55 per square foot, just under 50% of the loan amount. David Goldfisher of the Henley Group advised the company in its DPO negotiations, and Tom Welch of Colliers has been hired to arrange new debt financing.  Grossman will joint venture on the repositioning with Boston-based Dinosaur Capital Partners.

New York City

The Williamsburg Charter High School has leased 116,000 square feet of classroom space at 198 Varet St. in Brooklyn. It’s one of three high schools operated throughout the borough by not-for-profit Believe High Schools Network. Kalmon Dolgin Affiliates’ Jeffrey Unger represented the school and property owner 198-202 Varet Street Corp. in the long-term lease; the eight-story property is newly built on land formerly zoned for industrial.

Winick Realty Group has completed leasing the retail space in TF Cornerstone’s mixed-use complex at 505 W. 37th St. Ark Restaurants is taking 10,350 square feet for an as-yet-unnamed restaurant concept, and the property will also contain a 9,750-square-foot private event venue and catering space known as Pillars 37 and Pillars 38. Winick’s Steven Baker and Josh Singer represented the landlord. Newmark Knight Frank represented the catering hall, while Ark Restaurants was represented by KGW Associates.

Gast