BOSTON, MA--The Boston office of Tremont Realty Capital arranged financing for the refinance of 54 Middlesex Turnpike,(top right photo) a two story, 42,500 square foot, multi-tenant office building and separate 8,068 square foot daycare center located on 6.7 acres in Bedford, MA.David Ross, (bottom left photo) a Managing Director with Tremont, arranged the $4,749,500 loan, which was funded through a local bank.
The 20 year loan provided for roughly 70% loan-to-value with a 5.75% interest rate. The property is located near Routes 95 and 3.
According to Ross, “The owners had just completed the addition of a free-standing, 8,000 square foot daycare center at the property. They had financed the new improvements out of pocket and were looking for a new permanent loan to refinance the existing loan, in order to recoup some of their recent investment into the daycare center.
"While the daycare center was a start-up, the location was terrific and the office history and rent roll were compelling.”
Tremont Realty Capital, LLC is a national real estate investment and advisory firm, which makes direct debt and equity investments and provides institutional advisory services.
Tremont Realty Capital, LLC is a national real estate investment and advisory firm, which makes direct debt and equity investments and provides institutional advisory services.
Direct programs include high leverage bridge loans, short and long term mezzanine loans and equity capital. The Boston office of Tremont Realty Capital is located at 800 Boylston Street, 45th Floor, Boston, MA 02199.
CONTACTS:
David Ross, 617.867.0700 x773
Aimee Munsey, Senior Associate, Marketing & Communications, Tremont Realty Capital
Aimee Munsey, Senior Associate, Marketing & Communications, Tremont Realty Capital
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