KS Partners secures $45 million in financing through Marcone Capital for Highwood Office Park and Forbes Business Center

July 03, 2020 - Front Section
Highwood Office Park - Tewksbury, MA

Woburn, MA KS Partners has secured $45 million in financing through Marcone Capital, Inc. for two office parks in the Greater Boston area – Highwood Office Park in Tewksbury and Forbes Business Center in Braintree.

Forbes Business Center -
Braintree, MA

Highwood Office Park a 278,859 s/f, three building office park north of Boston obtained $27 million in financing. Located on I-495, one exit west of I-93, the property provides a high quality office environment that attracts both regional and national tenants. The park’s largest tenants include the headquarters of two well-known firms, international leader in the production of isotopes Cambridge Isotope Laboratories and accounting firm Moody, Faiglietti & Andronico. With almost $2 million recently invested in common areas, this well-maintained office park offers an amenity package that includes conference facilities, fitness center, game room, full- service cafeteria, and basketball courts.

Forbes Business Center (FBC), receiving $18 million, is a three building office campus totaling 159,615 s/f. It is highly visible and located at the intersection of Rte. 128 and Rte. 37 (Exit 6), one exit south of I-93 and Rte. 3. FBC provides tenants with recently renovated amenities including a full-service cafeteria, fitness center, and conference center. Across from the South Shore Plaza and South Shore Place, tenants enjoy proximity to the new 110 Grill, Residence Inn, and Logan Express. The park recently underwent façade, entryway, and parking upgrades that make it a go-to building for firms in the area.

Mike Marcone of Marcone Capital, said, “It’s a testament to the quality of the real estate and the sponsor that we were able to close these two loans in the middle of the current pandemic.”

“We are delighted that our banking partners recognize the tremendous value of these world-class assets located in dynamic Boston suburbs,” said Kambiz Shahbazi, president and founder of KS Partners.

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