BOSTON—The Boston capital markets team of Colliers International reports it recently closed $50.7 million in financing for commercial properties in Somerville, Carver, Peabody and Woburn, MA from three separate sources including a bank, CMBS lender and insurance company.

The Colliers team includes executive vice president David Douvadjian, senior vice president Thomas Welch and associate John Poole. Colliers arranged $7.7 million of permanent bank financing for 35-37 Medford St, in Somerville, a property owned by btcRE, LLC. The renovated three-story 53,347-square foot building is a historic brick–and- beam style office building located in a dense mixed-use urban neighborhood on the Somerville/Cambridge border.

Colliers also arranged a $21.5-million CMBS loan for Shaw's Plaza at 100 North Main St. in Carver, MA with a mortgage REIT on behalf of a private investor. The 85,199-square foot grocery-anchored prime retail strip located along the heavily travelled Route 58 that interchanges with Interstate 44 is currently 100% occupied and anchored by Shaws and CVS.

Colliers also facilitated the refinance of a three-building industrial portfolio, located off Route 128 North in Peabody and Woburn. The $11.6-million refinancing allowed the sponsor to dramatically reduce its interest rate by rate-locking at application for a new 15-year term, Colliers states. The three buildings total 313,200 square feet of space and are situated along major routes including Route 128/I-95, Route 93 and Route 1. The lender is CUNA Mutual, a Colliers correspondent life insurance company lender.

Jumbo Capital Management, a privately held commercial real estate investment firm, in collaboration with the Colliers International real estate team in Boston, has leased 36,584 square feet since closing on the purchase of the 1900 Crown Colony office building last August.

Most recently, Maryland-based One Day Roofing committed to the building taking 4,526 square feet of space on the fourth floor. The deal marks the company's entrance into the Greater Boston market. Mark Driscoll of Wyman Street Advisors represented the tenant.

Located in the premier Crown Colony Park at the intersection of Interstate 93 and Routes 128 and 3, 1900 Crown Colony is a 135,800-square-foot Class A office building.

The 12,686 square feet of newly completed leasing transactions combine with the previous 23,898 square feet of leases secured at year-end 2014. Previously, transactions were completed for Strategic Product Services, Auldey Toys of North America, and Environmental Partners.

The transactions were finalized in collaboration with Jumbo Capital Management's Jay Hirsh, managing partner and founder, Jordan Berns, partner, and the Colliers International team of Jim Elcock, Dave Goodhue, Caleb Hudak and Dan Hines who serve as the exclusive leasing agent for the property.

On behalf of Calare Properties, CBRE/New England's Debt & Structured Finance team secured first mortgage financing for 40 Pepes Farm Road in Milford, CT, and acquisition financing for 20 Seyon St. in Watertown, MA.

CBRE/NE's Kyle Juszczyszyn, Carlos Febres-Mazzei, Chris Coutts and Taylor Shepard secured financing for both properties. First mortgage financing for 40 Pepes Farm Road was secured from Inland Mortgage Capital in the amount of $6.64 million. 40 Pepes Farm Road is a 200,000-square-foot high-bay warehouse and distribution property that is currently 50% leased to Bunzl Distribution Northeast Inc.

Acquisition financing for 20 Seyon St. in the amount of $7.25 million was secured from Blue Hills Bank. The property consists of 94,268 square feet of industrial/flex space and is located approximately 7.5 miles from downtown Boston. The property is leased to Saks Fifth Avenue and Launch Trampoline Park.

Linear Retail Properties, LLC, reports it has acquired the Giroux Building, an 18,228-square-foot multi-tenant, storefront retail property located at 1833-1853 Massachusetts Ave. in downtown Lexington, MA.

The Giroux Building offers frontage on four streets including Massachusetts Avenue, Meriam Street, Depot Square and Depot Place and overlooks the historic Buckman Tavern and Battle Green in Lexington Center. The fully leased store block is comprised of nine local and regional tenants including Via Lago Restaurant, Yangtze River Restaurant, Eastern Bank and Dellaria Salon. The purchase price of the property was $10.465 million. The seller—The Giroux Building Limited Partnership—was represented by Connie Neville of Sperry Van Ness/Neville & Associates.

Linear Retail of Burlington, MA owns 78 retail properties including convenience-oriented strip shopping centers, specialty storefront retail in select downtown neighborhoods, smaller, well-located centers in dominant retail destination corridors, net leased single tenant retail properties and urban retail condos.

John Sullivan, senior vice president of NorthMarq Capital's Boston based regional office completed the $40-million refinance of Gateway Center, a 175,000-square-fot office building in Charlestown, MA.

The transaction was structured with a long-term fixed rate and featured a fast closing. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company, NorthMarq Capital states.

“The combination of a repeat borrower, property condition and excellent location were major strengths of the transaction,” says Sullivan. “All parties recognized the value in structuring a long-term refinance at what will surely be an attractive rate for years to come. It was a pleasure to work with both the lender and borrower to complete the deal.”

The Cooperative Bank has hired Michael Morel as assistant vice president, business development officer. The business development officer is a new position at TCB.

In this role Morel will focus on the acquisition of new deposit and loan relationships among small and mid-size businesses, as well as building collaborative relationships with community influencers. Before joining TCB, Morel was vice president of Eastern Bank where he managed all branch operations within the Harvard Square and Kendall Square banking centers. Morel has more than 15 years of experience in the banking industry and has held executive positions at several banks and banking groups, including Cambridge Savings Bank and Bank of America.