WOBURN, MASS. — Mesa West Capital has provided an $81 million loan to refinance Emblem 120, a 289-unit property in the Boston suburb of Woburn. The borrower was a joint venture between affiliates of Toll Brothers Inc. and Carlyle. Newmark’s Boston Debt & Structured Finance team of David Douvadjian, Timothy O’Donnell and David Douvadjian arranged the financing.
Emblem 120 was developed by Toll Brothers Apartment Living. The property was completed in 2022. Emblem 120 rises six stories and offers studio, one-, two- and three-bedroom floor plans. Amenities include a central courtyard, work-from-home space, rooftop terrace and lounge, pool with cabanas and fitness center. The property also includes 9,390 square feet of street-level retail space and access to surface and covered parking.