NORWELL AND SOUTHBOROUGH, MASS. — Quincy, Mass.-based Marcone Capital has arranged a total of $13.75 million for two Massachusetts office properties. In the first transaction, Mike Marcone of Marcone Capital secured $7.35 million in permanent financing for 600 Coordwainer Dr, a 54,000-square-foot office building situated on approximately 5.3 acres within Accord Business Park in Norwell. The borrower was 600 Coordwainer Drive LLC, an entity controlled by James Rader of Rader Properties. The lender was a regional bank.
Mike Marcone also arranged a $6.4 million permanent loan for 333 and 337 Turnpike Street, two office buildings located in Southborough. Both properties are two stories and consist of 39,774 and 36,728 square feet, respectively. The borrower was Southborough Equity Partners LLC, an entity controlled by Kambiz Shahbazi of KS Partners. The lender was a regional bank. Terms of both loans were undisclosed.