$6 Million Mixed-Use Loan | Suburban Boston
Attributes
Loan status
Non-Performing
Loan Purpose
Refinance
Lien Position
First Lien
Original Principal Amount
$53,000,000
Current UPB
$53,000,000
Origination Date
6/14/2022
Current Maturity Date
7/1/2032
Description
Jones Lang LaSalle has been retained on an exclusive basis by the Seller to arrange the sale of a $53 million office/lab loan (the “Loan” or “Note”). The Loan is secured by the first-lien mortgage on the fee-simple interest in a Class A office property in Waltham, MA (the "Collateral", the "Property" or the "Asset"). The Loan is scheduled to mature 7/1/2032. The Collateral is a 3-story, 182,106 SF office/lab building, located just 12 miles from Boston in the 128 North submarket. The Property was constructed in 2008 with flexibility to facilitate both Office and Life Science uses.
The offering presents investors with the ability to acquire a non-performing loan at a historic basis with a direct path to title with a cooperative borrower through an agreed upon Deed in Lieu.
...
Investment highlights
- Loan-to-Own - Direct path to title via the $53M loan with a cooperative borrower via Deed in Lieu of Foreclosure
- Flexible Infrastructure - Heavy power with 7,200 amps and specialized lab HVAC systems
- Strong existing amenity base - Below-grade executive parking, conference center, cafe and fitness center
- Proven location - Surrounded by institutional ownership, lab cluster and highway access
- Tailored to 128 North tenant demand - Positioned to capitalize on large-block leasing momentum with 60,000 SF Class A office floor plates combined with lab infrastructure
- Short-term income bridge - Over $1M of net income through Jan 2028 provides a bridge to prime releasing opportunity
Media
$53 Million Office/Lab Loan | Waltham, MA (0 Properties)
