Colliers Closes $19.7M in Financing for Manufacturing, Office Property in Lowell, Massachusetts
Calare Properties has acquired MACOM Technology Solutions’ 150,000-square-foot headquarters in Lowell, Mass.
LOWELL, MASS. — Colliers International Boston has arranged $19.7 million in financing for Calare Properties’ acquisition of MACOM Technology Solutions Inc.’s 150,000-square-foot headquarters, located in Lowell. The seller, MACOM Technology Solutions, has leased back the property for a 20-year term. Proceeds of the financing will be used to purchase the manufacturing facility at 100-144 Chelmsford St., as well as construct a connected 58,000-square-foot office addition to serve MACOM’s expanded headquarters. The financing consists of a first mortgage acquisition and construction loan from Boston Private Bank and Rockland Trust as well as subordinate debt from a community loan fund. Tom Welch, Adam Coppola and John Poole of Colliers secured the financing.