Barings provides $72.6 million loan on Needham office campus acquisition

Needham, MA Barings has provided a $72.6 million loan to a joint venture between Cross Ocean Partners and Lincoln Property Company to support the acquisition of 140 Kendrick St., a Class A office campus. The partnership acquired the campus from BXP in December 2025 in a $132-million deal brokered by Newmark.

“We are pleased to support Cross Ocean Partners and Lincoln Property Company in financing 140 Kendrick St.,” said Jonathan Neff, managing director at Barings. “The property’s experienced sponsorship, strong fundamentals, and leasing momentum make it a compelling investment opportunity to deploy capital on behalf of our investors.”

140 Kendrick St. is a three building, interconnected office campus totaling 409,197 s/f across 14.3 acres and located 15 miles southwest of Downtown Boston. It offers direct access to Rte. 128/I-95 and is adjacent to the 600-acre Cutler Park Reservation.