Boston, April 3, 2017 – Colliers International, Boston announced that it has recently arranged acquisition financing for a two-building portfolio sale of 734 Forest Street in Marlborough and 35 Dunham Road in Billerica, Massachusetts. The 120,000-square-foot flex/industrial portfolio sold to a New England-based real estate investment firm, exhibiting solid in place cash flow as well as future income growth through additional leasing. Colliers secured the acquisition financing from Belmont Savings.
"The lender, in recognition of the borrower's exceptional track record with value-add investment opportunities, differentiated itself in providing not only 80% leverage on a fixed rate basis but also a future funding feature to capitalize the costs associated with bringing the collateral to full occupancy," stated Adam Coppola, Vice President at Colliers International.
The financing was arranged by Adam Coppola, Tom Welch, John Poole, and Tonia Jenkins.
The $10.06 million sale of the portfolio was managed by Executive Vice President of the Colliers Investment Sales team, Doug Jacoby, and his team of executive vice president Scott Dragos, vice president Tony Hayes, assistant vice president Tim Mulhall, and associate Dan Hines.
About Colliers International Group:
Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIGI is an industry leading global real estate services company with more than 15,000 skilled professionals operating in 68 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 11 consecutive years, more than any other real estate services firm.
For further information, please contact:Christine Comey Lewis
InkHouse for Colliers International, Boston