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May. 10, 2013

Jefferies LoanCore Provides $60M Mortgage for Hingham Shipyard Retail Center

By Veronica Grecu, Associate Editor

The Debt & Equity Finance team of CBRE/New England has negotiated $60 million in first mortgage financing with New York-based investment bank Jefferies LoanCore on behalf of real estate development company Samuels & Associates. According to Citybizlist, the loan will be used to secure The Launch at Hingham Shipyard, a transit-oriented shopping center located at 349 Lincoln Street at Shipyard Drive, on the former site of the historic World War II naval shipbuilding.

The Launch was designed by Elkus Manfredi and Jeff Pullman Architects as a mix of large retailers and small boutique shops to create a lively destination for visitors, residents and commuters alike. The waterfront shopping center kicked off in spring 2010 as part of a large redevelopment project of the historic Hingham Shipyard that broke ground in 2006.

Upon completion, the shopping center will include 220,000 square feet of retail space marketed by Eagle Rock Retail and anchored by 25 national retailers and restaurants such as Old Navy, Wahlburgers, Bed Bath & Beyond, Patriot Cinemas, Fresh Market and Trader Joe’s, as well as 30,000 square feet of office space.

The project also includes The Moorings, a 94-unit luxury condominium structure designed by DiMella Shaffer Architects that is currently under construction above the retail space, and an on-site parking garage with 1,500 spaces for retail customers.

Photos of The Launch at Hingham Shipyard via Eagle Rock Retail

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