Westford, MA Colliers International Group Inc. has secured $18.5 million in long-term fixed rate financing on behalf of its client RAM Management to acquire Westford Corporate Center. A Colliers team led by executive vice president Tom Welch and senior vice president Adam Coppola secured the competitively-structured, 10-year fixed rate loan from a local banking institution despite the challenging circumstance posed by COVID-19.
Located at 3-5 Carlisle Rd., the Westford Corporate Center is an office and research and development complex which totals 167,881 s/f and sits on more than 18 acres. The property was originally built 1986 and currently serves as the corporate headquarters for Cynosure, a private equity-backed company in the aesthetic and medical treatment industry. The complex is located along the I-495 business corridor, which is home to a number of several leading technology companies including Red Hat, Juniper Networks, Sonus and Netscout Systems.
“As always, it was an honor to exclusively represent RAM Management in securing acquisition financing, especially one that closed with attractive permanent debt just a few weeks ago,” said Coppola. “Such a favorable outcome – the one agreed to pre-pandemic and closed mid-crisis – stands as a testament to RAM’s impeccable track record, reputation and emphasis on relationships with sellers, lenders and brokers. We are especially pleased that RAM and its investors will enjoy returns in excess of original projections due to an exceptional rate, and that all parties to the transaction were served well by the execution of the financing.”
The properties proximity to Boston and location near Rte. 495, Rte.3, and the MBTA Commuter Rail System at the Littleton train station offer opportunities to attract employees from the Cambridge/Boston area.