Dealmaker: JLL Secures $190M in Refinancing for Boston-Area Retail Center

(Legacy Place, Dedham, Mass.)

JLL Capital Markets, Chicago, arranged $190 million in first mortgage refinancing led by Wells Fargo and Truist for Legacy Place, a grocery-anchored retail center in Dedham, Mass.

JLL worked with the borrower, WS Development and Nuveen Real Estate, to secure the loan through a two-bank syndicate.

JLL Senior Managing Director Brett Paulsrud, Senior Director Henry Schaffer and Associate Hugh Doherty led the JLL Retail Capital Markets Debt Advisory team with assistance from Retail Investment Sales Advisors Chris Angelone and Zach Nitsche.

“Despite the headlines in the debt markets, we’re still seeing liquidity available for best-in-class assets and sponsors, even at scale,” Paulsrud said.

Legacy Place, a 675,000-square-foot retail center, is anchored by Whole Foods, Apple, L.L. Bean and Showcase Cinemas. Located in the Boston suburbs, it is the most visited lifestyle center in New England.