Argentic, Hillcrest Lend $78M on Boston Industrial Portfolio
By Andrew Coen November 8, 2023 2:47 pm
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A joint venture between Griffith Properties and Dune Real Estate Partners has sealed a $78 million refinance loan for five industrial properties in the Boston market, Commercial Observer has learned.
Argentic Real Estate Investment and Hillcrest Finance provided the loan on the sponsorship’s Boston Logistics Portfolio. The JV acquired the assets in November 2020 for $76 million.
Newmark (NMRK) arranged the debt transaction with a team led by Jordan Roeschlaub, Dustin Stolly, David Douvadjian, Chris Kramer, Tim O’Donnell, David Douvadjian Jr., Ben Kroll and Holden Witkoff.
The Boston Logistics Portfolio consists of five buildings totaling 631,000 square feet located between 63 Sprague Street and 91 Sprague Street in Dedham, Mass., just south of the Hyde Park neighborhood of Boston.
The properties feature logistics and distribution tenants.
Officials at Argentic Real Estate Investment, Griffith Properties and Dune Real Estate Partners did not immediately return requests for comment. Hillcrest Finance declined to comment.
Andrew Coen can be reached at acoen@commercialobserver.com
