WESTFORD, MA– Real estate services and investment management firm Colliers International Group Inc. announced that it has secured $18.5 million in long-term fixed rate financing on behalf of its client RAM Management to acquire Westford Corporate Center.
A Colliers team led by Executive Vice President Tom Welch and Senior Vice President Adam Coppola secured the competitively-structured, 10-year fixed rate loan from a local banking institution despite the challenging circumstance posed by COVID-19.
Located at 3-5 Carlisle Road in Westford, the Westford Corporate Center is an office and research and development complex which totals 167,881 square feet and sits on more than 18 acres. The property was originally built 1986 and currently serves as the corporate headquarters for Cynosure, a private equity-backed company in the aesthetic and medical treatment industry. The complex is conveniently located along the I-495 business corridor, which is home to a number of several leading technology companies.
“As always, it was an honor to exclusively represent RAM Management in securing acquisition financing, especially one that closed with attractive permanent debt just a few weeks ago,” said Coppola. “Such a favorable outcome – the one agreed to pre-pandemic and closed mid-crisis – stands as a testament to RAM’s impeccable track record, reputation and emphasis on relationships with sellers, lenders and brokers. We are especially pleased that RAM and its investors will enjoy returns in excess of original projections due to an exceptional rate, and that all parties to the transaction were served well by the execution of the financing.”
Westford is located on the I-495 Technology Corridor, and is the chosen home of many high tech companies, including Red Hat, Juniper Networks, Sonus and Netscout Systems. Its proximity to Boston and convenient location near Route 495, Route 3, and the MBTA Commuter Rail System at the Littleton train station offer opportunities to attract talented employees from the Cambridge/Boston area.