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Marchand Buys 60 Merrimack St.

HAVERHILL, MA-The downtown office building was purchased for $2.6 million, secured by a loan from Provident Bank.

By Joe Clements | Updated on August 23, 2000

Marchand Holding Corp. has acquired a 26,000-sf office building in downtown Haverhill for $2.6 million. The property at 60 Merrimack St. is fully leased to Health & Education Services Inc.

Holliday Fenoglio & Fowler arranged $1.61 million in financing for the deal, with Provident Bank providing the fixed-rate, 15-year note. Robert M. Herron of HFF’s Boston office oversaw the transaction. The company, he says, “was able to find a very creative and effective local lender who became comfortable with this property and the capital structure that was proposed to proceed with the loan.”

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