July 30, 2020
Colliers International’s Boston Capital Markets team has secured a $9.6-million loan to recapitalize Benerofe Properties’, Sivan Properties’ and Zusin Properties’ recent joint acquisition of a four-building flex portfolio in Branford, CT.
The portfolio includes 32, 34, 36 and 38 East Industrial Rd. and consists of approximately 121,000 square feet. Tom Welch and Adam Coppola of Colliers secured the financing through lender Genworth Financial, which provided a fifteen-year fixed rate first mortgage.
“In spite of the current environment, Genworth recognized the inherent value of the portfolio and the sponsor’s commitment to the Branford submarket, and ultimately provided a winning combination of leverage and pricing to dovetail with the borrower’s long term hold strategy,” said Welch.
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