File photo courtesy of Newmark

A Needham office campus that sold last year for $132 million received $72.6 million in financing from Barings.

In December, BXP sold the 140 Kendrick St. property to a joint venture of Lincoln Property Co. and Cross Ocean Partners of Greenwich, Connecticut. The 409,197-square-foot campus contains three interconnected buildings and was 96 percent leased at the time of the acquisition.

The campus was originally developed in 2000 for the headquarters of Parametric Technology Corp., which relocated to Boston’s Seaport District in 2019.

BXP invested $27.8 million in capital improvements following PTC’s departure to recruit new tenants, including Wellington Management, Clarks and Walker & Dunlop.

“The property’s experienced sponsorship, strong fundamentals and leasing momentum make it a compelling investment opportunity to deploy capital on behalf of our investors,” Barings Managing Director Jonathan Neff said in a statement.

The transaction closed Aug. 13, according to a Norfolk County mortgage record.

Barings is a subsidiary of MassMutual. Cross Ocean Partners Management has $10.7 billion in assets under management.