WESTBOROUGH, MASS. — New Jersey-based investment and development firm Atlantic Management has received $96.5 million in financing for two industrial properties that are located in Westborough, about 35 miles west of Boston. The company received a $70.5 million loan for the refinancing of 50 Otis Street, a 406,437-square-foot building that was renovated and expanded in 2021. In addition, Atlantic Management received a $26 million construction loan for 54 Otis Street, a 100,000-square-foot development that will be a build-to-suit for an undisclosed e-commerce user that also fully occupies 50 Otis Street. Completion of 54 Otis Street is slated for mid-2023. Robert Griffin, David Douvadjian Sr., Timothy O’Donnell, Brian Butler, David Douvadjian Jr. and Conor Reenstierna of Newmark arranged the loans. The direct lender was not disclosed.
Completion of 54 Otis Street, a 100,000-square-foot industrial project in Westborough, Massachusetts, is slated for mid-2023.
Atlantic Management Receives $96.5M in Financing for Metro Boston Industrial Properties
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