BOSTON, MA – The Boston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured a $6.4 million refinancing for Mystic Commerce Center (top left photo), a two-building, 252,474-square-foot industrial facility in Chelsea, Massachusetts.Working exclusively on behalf of Combined Properties, Inc., HFF directors Greg LaBine (middle right photo) and Janet Krolman (lower left photo) placed the five-year, fixed-rate loan with PPM Finance, Inc. on behalf of Jackson National Life Insurance Company. Loan proceeds are replacing the existing first mortgage debt. HFF will also service the loan.
“A number of Mystic Commerce Center tenants have been in occupancy since the late 1980’s and early 1990’s demonstrating the strength of the asset and its location.
"The property sits adjacent to Route 1, within a quarter of a mile from the entrance to the Tobin Bridge,” said Krolman.
"The property sits adjacent to Route 1, within a quarter of a mile from the entrance to the Tobin Bridge,” said Krolman.
Combined Properties, Inc. is a full-service real estate investment and development firm specializing in high-quality office, R&D, industrial and retail properties in the northern suburbs of Boston. Since its founding the company has purchased, developed and managed more than two million square feet of space.
Contacts:
Gregory F. Labine, HFF Director, (617) 338-0990, glabine@hfflp.com
Janet N. Krolman, HFF Director, (617) 338-0990, jkrolman@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500
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