BRAINTREE, MA-Campanelli Cos. formed a joint venture withTriGate Capital and scooped up an eight-property GS Portfolio and asingle property from Analog Devices. The portfolio was acquired for$15.8 million, while 30 Perwal St. in Westwood, MA was picked upfor $3.8 million. The purchase was assisted with low-leveredfinancing from Eastern Bank along with Cambridge Savings.Campanelli would not disclose the terms of the financing toGlobeSt.com.

Daniel DeMarco, partner at Campanelli, said the joint venture is"just a great match of opportunity real estate capital, anddevelopment and repositioning expertise. It really gives us theequity Campanelli needs in today's finance markets to go out andpurchase for repositioning." Campanelli traditionally uses capitalimprovement and lease-up programs on its properties.

The properties in the GS Portfolio are: 700 and 900 TechnologyPark Dr. in Billerica, MA; 5 and 10 Cornell Pl. in Wilmington, MA;255, 261 and 265 Ballardvale St. in Wilmington MA; and 9 TownsendDr. West in Nashua, NH. "These are functional buildings mostlyone-story, a couple of two story building, between routes 128 and495, [excepting the New Hampshire property]," DeMarco explains."They all have excellent access to highway and they're all in needof a little TLC."