Photo courtesy of BGO
A partnership of two real estate investors bought a two-building, 134,413 square-foot industrial portfolio in Marlborough for $28.15 million.
Boston-based Seyon Group and BGO partnered on the acquisition of 261 Cedar Hill St. and 753 Forest St., a pair of single-story shallow-bay buildings. The portfolio is 100 percent leased.
The seller was Noshoba Forest LLC and Nashoba Cedar LLC, both of which list a Westwood address.
The new owners plan targeted capital improvements. Seyon Management is the new property manager and construction manager.
“These are well-located, functional industrial assets in a market we know well, and we look forward to applying our operating and leasing capabilities to create value across the portfolio,” Seyon Managing Partner Bryan Blake said in a statement.
The two firms announced that they are continuing to focus on acquisition of industrial properties in the Northeast. They previously partnered on the acquisition of a seven-property portfolio in Mansfield in 2021.
BGO, formerly known as BentallGreenOak, and Bell Partners announced in March they would merge, following Bell Partners’ acquisition by BGO’s parent, Sun Life Financial. The two companies have more than $100 billion in assets under management.
