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Finance
Posted: April 14, 2017
Coppola, Welch, Poole and Jenkins of Colliers International arrange $9.29 million financing
Adam Coppola, Colliers International
Tom Welch, Colliers International
John Poole, Colliers International
Tonia Jenkins, Colliers International
Marlborough, MA Colliers International has arranged $9.29 million acquisition financing for a two-building portfolio sale of 734 Forest St. in Marlborough and 35 Dunham Rd. in Billerica. The 120,000 s/f 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.
734 Forest Street - Marlborough, MA
35 Dunham Road - Billerica, MA
“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,” said Adam Coppola, vice president at Colliers.
The financing was arranged by 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.
Colliers International Group is an industry-leading global real estate services company with more than 15,000 skilled professionals operating in 68 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
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Finance
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