East Boston Savings Bank (EBSB) has partnered with NB Development Group, an affiliate of New Balance Athletics, Inc. by providing the financing towards 40 Guest Street, at Boston Landing in Brighton, MA, a mix of office/lab/retail and the new practice facility of the Boston Celtics. The $76 MM Construction to Permanent Loan was arranged through Transwestern on behalf of NB Development Group. The Boston Celtics announced the official ground-breaking of their new practice facility back in November of 2016, with an expected completion in June of 2018.
The new facility will be a part of the Boston Landing mixed-use development on Guest Street. The 160,000 square foot facility will be the home of the Boston Celtics' new 71,000 square-foot training and practice facility called the Auerbach Center, named in honor of the team legend Arnold & "Red" Auerbach. It will feature two state-of-the-art parquet floor basketball courts, sports and science nutrition facilities, expanded strength and conditioning facilities, physical therapy areas, best-in class locker rooms and player's lounge, just to name a few.
We are in tremendous support of the ownership's vision for Boston Landing and we look forward to this partnership with them on the development of such a multifaceted property that not only serves the training and practice needs of the Boston Celtics but will also provide office/lab space and retail opportunities for local businesses. It is an ideal central location for commuters and will serve as a great staple within the community." said Chairman, CEO and President, Richard J. Gavegnano.
We are thrilled to be aligning with another prominent Boston based institution like East Boston Savings Bank, to go along with the Boston Celtics and New Balance" said Jim Halliday, NB Development Group's Managing Director. East Boston Savings Bank's commitment and investment in this project further highlights the excitement and transformation that is Boston Landing."
Located just minutes from downtown Boston and adjacent to the New Balance World Headquarters, Boston Landing offers an urban location with plenty of parking and green space, located in close proximity to public transportation and a number of college campuses. In addition to the training and practice facility for the Boston Celtics, it is also home to the Boston Bruins' practice facility at Warrior Ice Arena.