BOSTON – Colliers Meredith & Grew’s Capital Markets group announced that it has arranged a $8.5 million refinancing for a four-building, 173,917-square-foot portfolio of office and R&D buildings located at 97, 99, 103-105 and 107-109 South Street in Hopkinton, Massachusetts. The majority of the fully-leased asset is occupied by Lonza Hopkinton, Inc., a leading supplier of contract biopharmaceutical development and manufacturing services.
Vice President John Broderick of Colliers Meredith & Grew represented the borrower, Southfield Properties I, II and III LLC. Genworth Financial, Inc., a leading Fortune 500 global financial security company, financed the transaction. The eight-year, fixed-rate loan closed in April 2010.
“Genworth did a commendable job understanding the asset and provided a financing that exactly matched our client’s request,” said Broderick.
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