Colliers Meredith & Grew's capital markets group has arranged a $8.5 million refinancing for a four-building, 173,917 s/f portfolio of office and R&D buildings located at 97, 99, 103-105 and 107-109 South St. The majority of the fully-leased asset is occupied by Lonza Hopkinton, Inc., a leading supplier of contract biopharmaceutical development and manufacturing services.
Vice president John Broderick of Colliers Meredith & Grew represented the borrower, Southfield Properties I, II and III LLC. Genworth Financial, Inc., a leading Fortune 500 global financial security company, financed the transaction. The eight-year, fixed-rate loan closed in April.
"Genworth did a commendable job understanding the asset and provided a financing that exactly matched our client's request," said Broderick.
About Colliers Meredith & Grew
Colliers Meredith & Grew is a Boston-based commercial real estate company with integrated service groups including Brokerage, Capital Markets, Counseling & Valuation, Development & Advisory, Investment Sales, and Property & Asset Management. In addition to representing its core clients in New England, Colliers Meredith & Grew provides national and international real estate services to its multi-market clients as an owner/member of Strategic Alliance Mortgage LLC (SAM) and through Colliers International, a global leader in real estate services with more than 15,000 professionals operating out of 480 offices in 61 countries. Colliers provides a full range of services to real estate users, owners and investors worldwide including: global corporate solutions; sales and lease brokerage; property and asset management; project management; hotel investment sales and consulting; property valuation and appraisal services; mortgage banking and insightful research. The Lipsey Company and National Real Estate Investor magazine ranked Colliers International as the world's number two commercial real estate brand.