Boston, April 3, 2017 – Colliers International, Boston announced that it has recently arranged acquisition financing for a two-building portfolio sale of 734 Forest Street in Marlborough and 35 Dunham Road in Billerica, Massachusetts. The 120,000-square-foot flex/industrial portfolio sold to a New England-based real estate investment firm, exhibiting solid in place cash flow as well as future income growth through additional leasing. Colliers secured the acquisition financing from Belmont Savings.
"The lender, in recognition of the borrower's exceptional track record with value-add investment opportunities, differentiated itself in providing not only 80% leverage on a fixed rate basis but also a future funding feature to capitalize the costs associated with bringing the collateral to full occupancy," stated Adam Coppola, Vice President at Colliers International.
The financing was arranged by Adam Coppola, Tom Welch, John Poole, and Tonia Jenkins.
The $10.06 million sale of the portfolio was managed by Executive Vice President of the Colliers Investment Sales team, Doug Jacoby, and his team of executive vice president Scott Dragos, vice president Tony Hayes, assistant vice president Tim Mulhall, and associate Dan Hines.