News: Front Section
Posted: April 1, 2016
HarborOne provides $7.875 million to affiliates of The Grossman Companies - Juszczyszyn and Coutts of CBRE/New England secured financing
Kyle Juszczyszyn, CBRE New England
Chris Coutts, CBRE New England
Killingly, CT On behalf of the affiliates of The Grossman Companies, CBRE/New England’s debt & structured finance team secured permanent financing with HarborOne Bank for 349 Lake Rd. CBRE/NE’s Kyle Juszczyszyn and Chris Coutts secured the financing.
HarborOne Bank provided an attractive, long-term fixed rate loan in the amount of $7.875 million to affiliates of The Grossman Cos. to refinance a maturing loan. 349 Lake Rd. is a 207,878 s/f industrial building situated on 20.74 acres. The property is currently 100% leased to C&M Corp. and Superwinch with a long-term parking lease to Rite Aid. Situated just half a mile from Exit 94 on I-395, 349 Lake Rd. offers access to New England via the region’s major thoroughfares.
349 Lake Road - Killingly, CT“We are pleased to have assisted The Grossman Companies with securing long-term, fixed-rate permanent financing for 349 Lake Road. HarborOne Bank provided attractive financing terms in a very competitive process,” said Juszczyszyn.
David Grossman, who oversees financing for The Grossman Cos., said, “It was great to work with the CBRE/NE team again who conducted a competitive and fully transparent process. We are pleased with the outcome and look forward to expanding our relationship with HarborOne.”
The Grossman Cos. is a family-owned commercial real estate investment, development and management firm. With approximately three million square feet of diversified holdings, The Grossman Companies is one of the most active and fastest growing commercial real estate firms in New England.
CB Richard Ellis – N.E. Partners, LP, a joint venture with CBRE Group, Inc. has offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. CBRE Group, Inc., a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The company has approximately 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.
Tags:
Front Section
MORE FROM Front Section
Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.
Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
Columns and Thought Leadership
Four tips for a smooth 1031 Exchange - by Bill Lopriore
Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul
To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.
Make PR pop by highlighting unique angles - by Stanley Hurwitz
Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.
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: