GE Commits $56M in Office Park Loan

(Read more on the debt and equity markets.)

BURLINGTON, MA-GE Real Estate has provided a $55.5-million loan facilitating the purchase of the Burlington Woods Office Park. The three-building, 288,000-sf campus is now owned by a joint venture of Urdang Capital Management and Griffith Properties LLC.

“GE recognizes the potential of this well-located property and was a collaborative, accommodating partner throughout the transaction process,” says J. Brad Griffith, a Boston-based real estate veteran active throughout the suburban market and known for repositioning older properties into modern office and flex space along Route 128. The owners paid $66 million for the complex, a transaction initially reported by GlobeSt.com this summer.