Holliday Fenoglio Fowler, L.P. (HFF) has secured $10.4 million in combined financing for 130 Lizotte Dr., a 100,000 s/f office building in Marlborough, and 118 Turnpike Rd., an 80,000 s/f office building in Southborough, Mass.
Working on behalf of private investor CURO Enterprises, HFF placed the loans with Blue Hills Bank. Loan proceeds were used to acquire the properties. Both loans were structured as floating-rate loans that were swapped to a fixed-rate.
130 Lizotte Dr. is located within the Lake Williams Corporate Center adjacent to the I-495/Rte. 20 interchange, 25 miles west of Boston. The property was completed in 1999 as a build-to-suit for its major tenant, Acosta, Inc., a national full-service sales and marketing agency. Currently, the facility is 92% leased to Acosta and Career Arc Group. Amenities at the property include multiple conference facilities and shower facilities.
118 Turnpike Rd. is situated along Rte. 9 just under two miles from the Mass. Turnpike/I-90 and about 25 miles west of Boston in Southborough. The three-story property was originally built in 1989 for its prior tenant, Autonomy Corporation, a wholly-owned entity of Hewlett-Packard.
The HFF debt placement team representing the borrower was led by managing director Greg LaBine with assistance from real estate analysts Brett Paulsrud and Martha Nay.
"These acquisitions represent two of the three CURO acquisitions in the I-495/Mass Pike corridor within the past year," said LaBine. "Blue Hills Bank has been their finance partner on all three deals, a shining example that relationships are still of paramount importance within the banking community today."
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing.