September 12, 2019
Boston-based mortgage banking firm EagleBridge Capital has arranged a $5.2 million acquisition loan for 33 Locke Dr., a two-story, 61,177-square-foot office building in Marlborough. Ted Sidel, principal of EagleBridge, secured the financing on behalf of the undisclosed borrower. Terms include two-years of interest-only payments, and future advances for capital and tenant improvements.
The property is currently 95% occupied by a tenant roster that includes Astellas Institute for Regenerative Medicine, All Pro Productions, Nitto Denko Avecia, and Communication Technology Services.
“We were pleased to arrange acquisition financing which met the borrower’s goals and featured a very attractive interest rate, a two year interest-only period and flexible prepayment,” said Sidel.
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