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Boston & New England  + Industrial  |  July 30, 2020
David Cohen
By: David Cohen

Colliers Secures $10M Refinancing for Connecticut Flex Portfolio

Colliers International’s Boston Capital Markets team has secured a $9.6-million loan to recapitalize Benerofe Properties’, Sivan Properties’ and Zusin Properties’ recent joint acquisition of a four-building flex portfolio in Branford, CT.

The portfolio includes 32, 34, 36 and 38 East Industrial Rd. and consists of approximately 121,000 square feet. Tom Welch and Adam Coppola of Colliers secured the financing through lender Genworth Financial, which provided a fifteen-year fixed rate first mortgage.

“In spite of the current environment, Genworth recognized the inherent value of the portfolio and the sponsor’s commitment to the Branford submarket, and ultimately provided a winning combination of leverage and pricing to dovetail with the borrower’s long term hold strategy,” said Welch.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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