$40 Million Non-Performing Office Loan

Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis by the Seller to arrange the sale of a $40 million non-performing office loan (the “Loan”). The Loan is secured by a leasehold mortgage on a two-building office property in Waltham, MA (the “Collateral” or “Property”). The $43 million Loan was originated in March 2021 and features a floating interest rate of SOFR + 2.75%. With an initial maturity date in March 2024, the Loan went non-performing as a result of a maturity default in March 2025. As of March 2025, the Loan has a current unpaid principal balance of $40 million.

The Collateral comprises two, six-story office buildings constructed in 1985/1988 and is positioned on a 12.6-acre site. The Property features 296,673 square feet of net rentable area and is subject to a ground lease. Located in Boston’s Route 128 corridor, the Property benefits from its close proximity to Interstate 95, Interstate 90, and an MBTA commuter rail station. As of March 2025, the Property was 87.2% occupied.