According to Richards Barry Joyce & Partners, LLC (RBJ&P), RBJ | Capital Markets brokered two separate building sales, acting as the exclusive sales agent on behalf of a REMIC Trust that is specially serviced by LNR Partners LLC.
The properties - the Billerica Business Center and the Big Y Distribution Center - were purchased by affiliates of Brookwood Financial Partners, LLC for $19.5 million.
The Billerica Business Center, which sold for $15 million, is a six-building park consisting of 448,616 s/f of office and flex space and is currently 49% leased. The park is located in Billerica and Tewksbury at 101 Billerica Ave.
The Big Y Distribution Center, a 217,000 s/f high-bay warehouse/distribution facility, was purchased for $4.5 million. Located at 2189 Westover Rd. in Chicopee, the building is fully occupied by the Big Y Foods, a supermarket chain based in Springfield.
"Marketing distressed assets in this type of economic environment presents a very interesting set of challenges," said Frank Petz, executive vice president at RBJ&P and head of the firm's RBJ | Capital Markets group. "Working closely with the buildings' ownership, our capital markets group and our I-495 market broker team were able to engage an experienced and well capitalized buyer in Brookwood. By incorporating the most recent market dynamics into their underwriting, Brookwood is well positioned to realize the significant upside potential of these assets."
The Billerica Business Center and the Big Y Distribution Center were purchased by their lender in May 2010, in foreclosure proceedings. LNR Partners, LLC marketed the properties for sale, acting as a special servicer to the lender.
Ownership was represented by RBJ&P's Petz and John Wilson, partner. RBJ&P has been named the exclusive leasing agent for the Billerica Business Center.


About Brookwood Financial Partners
Brookwood is a Massachusetts-based private equity firm that acquires real estate and invests in private companies. Since 1993, Brookwood has acquired 100 properties totaling approximately 8.9 million square feet of office, retail and research & development space as well as 143 hotel rooms, 138 condominium units, 572 apartments units, and 1,360 residential lots. Brookwood has acquired real estate assets throughout the United States including Arizona, California, Colorado, Florida, Georgia, Maine, Maryland, Massachusetts, New Jersey, North Carolina, Rhode Island, Texas, and Virginia. In addition, Brookwood has invested in private companies in the wireless telecommunications, restaurant, software and outsourcing industries. Brookwood has raised over $421 million in equity to acquire assets with a realized and unrealized value of approximately $1.1 billion.

About Richards Barry Joyce & Partners, LLC
Richards Barry Joyce & Partners is a full service commercial real estate firm providing creative solutions for its client partners. The company's focused team approach offers clients a competitive advantage in solving their local, national, and international real estate challenges. Richards Barry Joyce & Partners' unique platform offers a full range of real estate advisory services including market analysis, capital markets solutions, financial analysis, corporate services, portfolio review, and consulting services. For more information, please visit our website at www.rbjrealestate.com.