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$56M Loan To Help Finance Wilmington CRE

Dec 3, 2015 | Reprints | Unlock Link | Print

Investcorp and Griffith Properties have received a $56.5 million commercial real estate loan from Citizens Bank.

The loan will help refinance existing debt and reposition the 550,000-square-foot Ballardvale Office Park in Wilmington.

“The Citizens Commercial Real Estate Finance team has been a great partner on this deal,” Ryan Bassett, principal in Investcorp’s real estate group, said in a statement. “They bring great ideas and a wealth of experience in the Greater Boston market and are able to execute quickly.”

“We like how Investcorp and Griffith Properties are revitalizing this office campus,” Gary Magnuson, head of commercial real estate finance for Citizens Commercial Banking, said in a statement. “Our bankers enjoyed working with their teams and we look forward to working more with them in the future.”

Commercial & Industrial