BOSTON-NorthMarq's Boston regional office has arranged $59 million of acquisition and mezzanine financing for the Condyne Industrial Portfolio located throughout Greater Boston, GlobeSt.com has learned exclusively. Financing was based on a five-year term with one year of interest only and a 29-year amortization schedule.
The portfolio includes five buildings containing a total of 1.5 million square feet of industrial space. NorthMarq arranged the financing for the borrower, Massachusetts Industrial, LLC, through its relationship with a REIT.
“This deal required structured financing to include first mortgage, mezzanine plus preferred equity,” James M. Murphy, managing director of NorthMarq's Boston regional office, says in a statement. “It was NorthMarq's pleasure to work with the borrower and lender to put this deal together.”
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