“Wells took the time to structure a loan that gave Commonfund and CC&F both the dollars and the flexibility they need to successfully reposition the portfolio and unlock their long-term value.
The portfolio is located within the 150-acre New England Business Center, adjacent to Route 128 and south of the Massachusetts Turnpike in Needham, approximately eight miles west of downtown Boston. Four of the properties are currently vacant and the fifth is leased to Gold’s Gym.
Since 1960, Cabot, Cabot & Forbes has developed more than 60 million square feet of space throughout the U.S. including more than 20 million square feet of first-class office space in prestigious urban locations and noted office, mixed-use and transit-oriented developments.
HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing.