Sudbury, MA. (May 12, 2018) – Berkadia announced today their arrangement of acquisition financing secured by Chiswick Park, a 5-building industrial, flex / R&D office complex located at 490 Boston Post Road in the heart of Sudbury, Massachusetts. Berkadia Commercial Mortgage originated the $20,800,000 loan on behalf of Chiswick Park, LLC.
Built in 1987, the 330,000 SF office and industrial park is nearly 100% occupied and consists of industrial, warehouse, distribution, office, medical and recreational tenants. Leading tenants in the park are Staples, Emerson Hospital, Adtech and Pure Encapsulate. Funded by Brookline Bank, the 7-year fixed-rate loan facilitated the $27,500,000 acquisition of the property by John Parsons of Parsons Commercial Group.
Ryan Nelson, Anthony Golebiewski and Todd Rixon of Berkadia’s Boston office, arranged the loan. Nelson manages the Boston office of Berkadia and spearheads the arrangement of debt and equity capital for all commercial real estate product types.
“John Parsons brings an intimate knowledge of the property and this submarket,” commented Berkadia’s Ryan Nelson. “We were pleased to arrange a competitive long-term loan for this acquisition.”
Parsons Commercial Group has built a portfolio of more than 35 properties totaling over 2 million SF in the Suburban Boston Market. Additionally, Parsons leads SVN | Parsons Commercial Group; a leading brokerage and property management firm consistently ranked by the Boston Business Journal as a top-performing firm in commercial leasing, sales and property management. SVN | Parsons Commercial Group will continue as the exclusive property management and leasing firm representing Chiswick Park as it has for the last 20 years.
“This was a unique opportunity to purchase an off-market deal in Sudbury, a town with extremely strong demographics,” commented John Parsons. “Berkadia was instrumental in providing Parsons Commercial Group with exposure to numerous qualified financing institutions, ultimately helping us select Brookline Bank.”