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$7M in Financing Secured for Two Industrial Properties

HOLLISTON, MA-A first mortgage financing in the amount of $7.2 million was arranged for 200 and 201 Summer St. The two industrial properties total 171,000 sf and were recently sold to a NYC-based investor in a sale/leaseback deal.

By Naomi Grossman | Updated on December 12, 2003

HOLLISTON, MA-A first mortgage financing in the amount of $7.2 million was secured for industrial properties at 200 and 201 Summer St. Charles Cotsalas, vice president, and Ernest DesRochers, senior vice president and managing director of the Long Island regional office of NorthMarq Capital Inc. arranged the loan.

200 Summer St. consists of 79,595 sf while 201 Summer St. is comprised of 91,405 sf. Financing was based on a five-year term with a 23-year amortization schedule and was arranged for the borrower, Francis Greenburger, by NorthMarq through its correspondent relationship with Sun Life Assurance Company of Canada.

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