BURLINGTON, MA-Spectrum Financial Corp. has arranged $8 million in mortgage financing on behalf of Burlington Self Storage. Made via a CMBS lender, the note supports the 5.7-acre self storage complex, which is located on Ray Avenue, just south of the Route 3/Interstate 95 interchange.

Spectrum Director Casimir Groblewski secured the loan on behalf of the property’s owners, says Spectrum principal Stanley Sidel. Built between 1989 and 1991, the facility features five two-story buildings encompassing 785 storage units. The climate-controlled development, which includes a gated security system and central alarm, is 100% occupied.

Founded in 1971, Spectrum Financial Corp. is one of the oldest mortgage banking firms in Greater Boston, according to principal Joseph Hegenbart. The firm provides services for a range of property types, including office buildings, specialty retail, distribution centers and multi-family properties.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


GlobeSt. NET LEASE Fall 2023Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.