The owners of the Dedham Executive Office Center have secured a first mortgage with lender Brookline Bank.

KS Partners LLC said the transaction is part of its stabilization and recapitalization efforts on its existing 2 million-square-foot-plus commercial real estate portfolio, according to a statement.

"Expanding local lender relationships is an important aspect of KS Partners’ overall business strategy, so we are pleased to work with a respected and trusted community institution like Brookline Bank, which has more than 140 years experience providing banking services in Greater Boston," said Kambiz Shahbazi, president and founder of KS Partners.

"The Dedham Executive Office Center loan is good fit for Brookline Bank because the property is a high-quality asset that has performed well for a long period of time," said Darryl Fess, vice president at Brookline Bank. "The bank appreciated KS Partners’ professional, sophisticated approach to the transaction and looks forward to working with them again in the future."

Terms of the debt financing on the 180,000-square-foot office building were not disclosed.

With the most recent transaction involving several assets in Braintree, KS Partners has now recapitalized more than 1.4 million-square-feet of its portfolio in the past nine months. This series of transactions raised $85 million in new equity and created opportunities to add significant value to its commercial real estate holdings in the New England market, according to a statement.

 

KS Partners Continues Debt Stabilization On Dedham Property

by Banker & Tradesman time to read: 1 min
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