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Part of a four-building, $27.8 million financed
portfolio across the Greater Boston MSA |
BOSTON, MA – JLL Capital Markets has secured $27.8 million in financing for a four-building
portfolio totaling over 300,000 square feet across the Greater Boston MSA.
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| Tim Chaves |
JLL represented NorthBridge Partners and arranged
non-recourse acquisition financing through Bristol County Savings Bank.
The portfolio is 100% leased and comprises a variety of
single tenant warehouse, distribution and manufacturing buildings.
The four
properties are located in well established, master-planned industrial parks and
feature high-quality infrastructure with ample loading docks and power
capacity, abundant parking and efficient layouts.
The JLL Capital Markets Debt Advisory team was led by
Managing Director Andrew Gray and Director Ryan Parker.
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| Andrew Gray |
“There was considerable interest from local banks and
life insurance companies for financing this infill portfolio of high-quality
industrial assets with best-in-class sponsorship.
"The lender really distinguished itself with a
strong five-year, fixed rate deal and provided flexibility for release
provisions to align with the borrower’s business plan across the Portfolio,”
stated Gray.
“The NorthBridge team did a tremendous job sourcing the
portfolio as three separate acquisitions and we are glad our team was able to
create a new local bank relationship for them on this attractive buy,” Parker
added.
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| Ryan Parker |
Tim Chaves, EVP and Chief Lending Officer of Bristol County Savings Bank, also noted, “This transaction was representative of how community banks are adding value to the capital markets.
"BCSB’s intimate knowledge of our local
communities, as well the bespoke lending and treasury solutions delivered by
our commercial team, including Mike Patacao, SVP/Market Manager and Kevin
McCarthy, SVP/CLO, are the perfect recipe for a banking relationship that
is both dynamic and highly transparent, from term sheet through closing, and
beyond.
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| Mike Patacao |
"We sincerely value the relationship we built with
JLL and Northbridge and we applaud their work ethic, professionalism and
organizational character.”
JLL Capital Markets is a full-service global provider of
capital solutions for real estate investors and occupiers.
The firm's in-depth
local market and global investor knowledge delivers the best-in-class solutions
for clients — whether investment sales and advisory, debt advisory, equity
advisory or a recapitalization.
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| Kevin McCarthy, |
The firm has more than 3,000 Capital Markets
specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please
visit JLL’s newsroom.
CONTACT:
Grace Lewis
PR,
Capital Markets
JLL
2401
Cedar Springs Rd.
Dallas,
Texas 75201
M
+1 903 520 3478
JLL.com
www.sterlingorganization.com.
