CMG SECURES $12.6 MILLION B-NOTE FOR OFFICE PROPERTY
BURLINGTON, MASS. — The Capital Markets Group of Colliers Meredith & Grew (CMG) has secured a $12.6 million B-note loan for the expansion of One Wayside Road, an approximately 200,000-square-foot, Class A office building located within Burlington Office Park in Burlington. The expansion added 80,000 square feet to the office property, which is fully leased to Nuance Communications. Property amenities include a fitness center, food service and on-site management. Terms of the secondary financing include a 7-year term with a fixed rate that terminates at the same time as the original financing. Kevin Phelan and John Broderick of CMG represented the borrower, The Gutierrez Company. The lender is State Farm, which is also the property’s existing lender. Phelan and Broderick also secured the original financing for the property in 2005.