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JV Secures Financing for Core at Crosby Innovation Campus in Bedford
A joint venture between Anchor Line Partners and Alloy Properties has secured financing for The Core at Crosby, a nine-building technology and innovation campus located in Bedford, MA along Boston’s Route 128 corridor. The loan was provided by Berlin Hyp, which will also make additional loan funds available for future leasing costs.
A Newmark team led by co-head of U.S. Capital Markets Robert Griffin, along with Boston Debt & Structured Finance vice chairman David Douvadjian, Sr. and executive managing directors David Douvadjian, Jr. and Timothy O’Donnell, represented the borrower and procured the lender in conjunction with Boston Capital Markets executive vice chairman Edward Maher and vice chairman Matthew Pullen. Financial analyst Harrison Zucco provided analytical support.
“Demand at The Core at Crosby continues to validate the value of strategically repositioned campuses in today’s market,” said Andrew Maher, co-founder and managing partner of Anchor Line. “Together with our partners at Alloy Properties, we’re delivering flexible, high-quality life sciences environments built to support companies as they grow.”
Totaling 615,305 square feet, The Core at Crosby features a diverse rent roll anchored by the headquarters of software giant AspenTech and highlighted by a recently executed lease with leading radiopharmaceutical firm Lantheus.
- ◦Financing
