BEB Lending Provides $5.85 Million In Acquisition Financing for Industrial Property in Marlborough: Boston Real Estate Times
MARLBOROUGH, MA–BEB Lending, the finance platform of BEB Capital, announced that it has provided a $5.85 million bridge loan to Patriot Holding for the acquisition financing of an industrial property at 894-896 Boston Post Road in Marlborough, Mass.
The transaction represents BEB’s first in Massachusetts. The term of the financing is 18-months.
“This transaction is a perfect example of why we created BEB Lending,” said Sean Silverbrook, Vice President of BEB Lending. “We were able to provide Patriot Holding, an institutional owner, with access to financing to acquire this industrial asset that will offer a unique value-add opportunity with tremendous upside. This property gives them the ability to both utilize the existing square footage as well as the outdoor area for storage. We’re excited to partner together on our first transaction in Massachusetts and look forward to building a long-term relationship.”