Pembroke Corporate Park
Q10|NERR represented the borrower in securing a $10 million permanent loan on 14 industrial and office buildings comprising over 351,000 s/f. The financing marked Q10|NERR's first loan placement with their newest correspondent relationship. With already one of the largest network of commercial capital in New England, Q10|NERR continues to grow its stable of commercial capital sources to over 22 institutional lending relationships. The lender recognized the superior quality of the property and the borrower's extensive knowledge of real estate development and management; therefore, was able to provide a ten year fixed rate loan at 6% on a non-recourse basis. Even as the market continued to evolve during negotiations and closing, the institutional portfolio lender continued to persevere and work with the borrower in overcoming hurdles during closing while maintaining their loan terms.