Farallon Capital Management, Anchor Line Partners Receive $150M in Refinancing for 1.29M SF Office Building

LOWELL, MASS. — Farallon Capital Management and Anchor Line Partners have closed on $150 million in refinancing for Cross Point, a 1.29 million-square-foot office building located in Lowell. The financing was provided by Starwood Property Trust. A portion of the proceeds were used to refinance the debt put in place at the time of acquisition, while a majority of the balance of the proceeds will be used to fund leasing costs, primarily those associated with the recently announced 435,000-square-foot Kronos lease. The building recently underwent a $10 million renovation to upgrade and enhance the facility.