Wednesday, August 20, 2014

HFF secures combined $10.4 million in financing for CURO Enterprises in Marlborough, MA


Greg Labine
BOSTON, MA – HFF announced it has secured $10.4 million in combined financing for 130 Lizotte Drive, a 100,000-square-foot office building in Marlborough, Massachusetts, and 118 Turnpike Road, an 80,000-square-foot office building in Southborough, Massachusetts.

               Working on behalf of private investor CURO Enterprises, HFF placed the loans with Blue Hills Bank.  Loan proceeds were used to acquire the properties.  Both loans were structured as floating-rate loans that were swapped to a fixed-rate.

               130 Lizotte Drive is located within the Lake Williams Corporate Center adjacent to the Interstate 495/Route 20 interchange in Marlborough, about 25 miles west of Boston.

 The property was completed in 1999 as a build-to-suit for its major tenant, Acosta, Inc., a national full-service sales and marketing agency.  Currently, the facility is 92 percent leased to Acosta and Career Arc Group.  Amenities at the property include multiple conference facilities and shower facilities.

               118 Turnpike Road is situated along Route 9 just under two miles from The Massachusetts Turnpike/I-90 and about 25 miles west of Boston in Southborough.  The three-story property was originally built in 1989 for its prior tenant, Autonomy Corporation, a wholly-owned entity of Hewlett-Packard. 

               The HFF debt placement team representing the borrower was led by managing director Greg LaBine with assistance from real estate analysts Brett Paulsrud and Martha Nay.

               “These acquisitions represent two of the three CURO acquisitions in the Interstate 495/Mass Pike corridor within the past year,” said LaBine.  “Blue Hills Bank has been their finance partner on all three deals, a shining example that relationships are still of paramount importance within the banking community today.”


For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

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