JLL Secures $43.1M Acquisition Loan for Office Portfolio in Framingham, Massachusetts
FRAMINGHAM, MASS. — JLL has secured a $43.1 million acquisition loan for a two-property office portfolio totaling 292,014 square feet in Framingham, a western suburb of Boston. The properties, a 166,101-square-foot building situated at 492 Old Connecticut Path and a 125,913-square-foot building situated 161 Worcester Road, were 90 percent leased to 32 tenants at the time of the loan closing. Cambridge Savings Bank provided the fixed rate, nonrecourse loan to the borrower, a partnership between Campanelli and TriGate Capital. The borrower plans to invest $2.4 million into capital improvements to the portfolio. Greg LaBine and Martha Nay of JLL arranged the loan.