CBRE/NE Secures $9.1M Acquisition Financing for Two Industrial Properties in Massachusetts

MARLBOROUGH, MASS. — CBRE/New England’s Debt & Structured Finance team secured $9.1 million in acquisition financing for Calare Properties Inc. The company used loan proceeds to purchase two industrial/flex properties located at 261 Cedar Hill St. and 753 Forest St. within Cedar Hills Business Park in Marlborough. 261 Cedar Street is a 59,404-square-foot industrial/flex building that is fully occupied by four long-term tenants with staggered lease expiration dates. 753 Forest Street is a 75,000-square-foot property fully leased to five tenants. HarborOne Bank provided the financing. Kyle Juszczyszyn, Chris Coutts and Lenny Pierce of CBRE/NE arranged the financing for the borrower.