The Boston Capital Markets team of Colliers International recently provided a total of $50.7 million in financing for commercial properties in Somerville, Carver, Peabody and Woburn.
Colliers arranged $7.7 million in permanent bank financing for 35-37 Medford St. in Somerville, a property owned by btcRE LLC. The renovated three-story, 53,347-square-foot property is a historic brick-and- beam style office building on the Somerville/Cambridge border.
Colliers arranged a $21.5 million CMBS loan for Shaw’s Plaza at 100 North Main Street in Carver with a mortgage REIT on behalf of a private investor. The 85,199-square-foot retail strip is currently 100 percent occupied and anchored by Shaw’s and CVS.
Colliers also facilitated the $11.6 million refinance of a three-building industrial portfolio, located off Route 128 North in Peabody and Woburn. 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 was CUNA Mutual, a Colliers correspondent life insurance company lender. The refinancing allowed the sponsor to reduce its interest rate by rate-locking at application for a new 15-year term.
The Colliers team included Executive Vice President David Douvadjian, Senior Vice President Thomas Welch and associate John Poole.