News: Front Section
Posted: March 1, 2019
Coppola, Welch, Poole and Jenkins of Colliers International completes $9.62 million financing for Berkeley Partners
North Andover, MA Colliers International’s Boston-based Capital Markets group has secured $9.62 million of financing to recapitalize Berkeley Partners’ $14.8 million all cash purchase of 25 Commerce Way. The Colliers team of Adam Coppola, Thomas Welch, John Poole and Tonia Jenkins arranged the financing with AEGON USA Realty Advisors, LLC which Colliers represents as a correspondent.
25 Commerce Way is a 169,000 s/f single-story industrial asset, situated on 18.55 acres, that was 99% leased to seven tenants at the time of sale. Completely renovated in 2001, 25 Commerce offers a mix of space including: warehouse areas with 25’ clear heights, good column spacing and ample loading docks; high quality finished office space; and air-conditioned R&D and lab space. Located off Rte. 125, the asset benefits from its access to I-495 and its proximity to Boston.
“We are thrilled to establish a strategic relationship between AEGON and California-based Berkeley as Berkeley looks to grow its Boston-area portfolio,” said Coppola.
Welch said, “AEGON was able to distinguish itself by tailoring a structure to the investment vehicle’s business plan while locking in an exceptionally attractive rate for the duration of the planned investment horizon.”
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Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore
While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid:
