Boston & New England CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
NorthBridge Secures $28M to Acquire Boston-Area Industrial Portfolio
JLL Capital Markets recently secured $27.8 million in financing for a four-building industrial portfolio totaling more than 300,000 square feet across the Greater Boston MSA. A team led by managing director Andrew Gray and director Ryan Parker represented NorthBridge Partners and arranged non-recourse acquisition financing through Bristol County Savings Bank.
“There was considerable interest from local banks and life insurance companies for financing this infill portfolio of high-quality industrial assets with best-in-class sponsorship,” said Gray. “The lender really distinguished itself with a strong five-year, fixed rate deal and provided flexibility for release provisions to align with the borrower’s business plan across the portfolio.”
The portfolio is 100% leased and comprises a variety of single tenant warehouse, distribution and manufacturing buildings. The four properties are located in well established, master-planned industrial parks and feature high-quality infrastructure with ample loading docks and power capacity, abundant parking and efficient layouts.
- ◦Sale/Acquisition
- ◦Financing
