News: Front Section
Posted: July 2, 2015
Citizens Bank provides $13 million in new financing for Asahi/America Inc.
Citizens Bank has provided a $10 million revolving line of credit and $3 million owner-occupied real estate loan to Asahi/America Inc.
Asahi/America, a wholly owned subsidiary of AOC Industries, is a manufacturer and supplier of corrosion resistant fluid flow products.
Asahi/America used the financing to acquire its new headquarters, a 200,000 s/f manufacturing and warehouse facility at 655 Andover St. The company recently celebrated the grand opening of the new facility.
"The Citizens Commercial Banking team brings great ideas to the table and was able to execute quickly to help us meet our strategic and financial goals," said Stephen Harrington, CFO at Asahi/America. "Citizens was an excellent partner on this transaction and we're very excited to be growing and moving into our new headquarters in Lawrence."
"Asahi/America is a great client with an excellent business operation," said Jerry Sargent, president of Citizens Bank in Massachusetts. "The Citizens team was happy to be able to help Asahi/America management meet their goals."
MORE FROM Front Section
Quick Hits
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI
Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!
The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins
The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary