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| Blanchard Woods Office Complex, Burlington, MA |
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| Porter Terry |
The HFF team worked on behalf of the borrower, Duffy Properties, to secure
the 11-year, fixed-rate permanent loan through Nationwide Life Insurance
Company.
Blanchard Woods comprises 76, 78 and 80 Blanchard Road, which are
strategically located on 8.26 acres directly abutting Route 128/Interstate 95
approximately 13 miles north of Boston.
The property
benefits from its location in the Route 128 North office submarket of greater
Boston and more specifically, Burlington, which has a strong and growing
amenity base, proximity and easy access to Boston’s downtown and suburban
employment centers and is home to recent developments such as the 3rd Avenue
lifestyle center, The District and Wayside Commons.
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| Martha Nay |
The three Class A office buildings were renovated or completed between 2011 and 2014 and feature a cafeteria and two fitness centers. Collectively, Blanchard Woods is 91 percent leased to 19 tenants, including anchor tenant Cambridge Trust.
The HFF debt placement team representing the borrower included senior
director Porter Terry and director Martha Nay.
“Our client developed a best-in-class asset with a goal of holding it
long-term for their own account,” Terry said. “Working with Nationwide,
HFF was able to provide a long-term, fixed-rate financing option with
compelling terms that helped them realize this goal.”
CONTACTS:
PORTER TERRY
HFF Senior Director
(617) 338-0990
MARTHA NAY
HFF Director
(617) 338-0990
KRISTEN MURPHY
HFF Director, Public
Relations
(617) 338-0990
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