July 24, 2020
Privately held, Boston-based investment management firm Rhino Capital Advisors has acquired 456 Bedford St., a 199,902-square-foot flex property in Fall River.
Rhino Capital acquired the property in a sale-leaseback transaction with the seller and tenant, which signed a new 10-year lease. The tenant offers information technology services to a list of Fortune 500 companies. The data center is located on more than three acres.
Brett Paulsrud and Madeline Joyce of JLL secured a $10.3 million acquisition loan on behalf of Rhino Capital. The lender was Cambridge Savings Bank.
“Given the current state of the market, there is a renewed interest in data centers from investors,” said Paulsrud. “This was a timely acquisition on Rhino’s behalf and a great addition to its portfolio. Both Rhino Capital and Cambridge Savings Bank worked patiently and flawlessly through the closing process despite the market challenges created by COVID-19.”
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