Transwestern has arranged $28 million to refinance a five building industrial portfolio on behalf of First Highland Management and Development Corp. The buildings are located in Dedham Commerce Park in Boston on Sprague St. in Boston, Massachusetts. The park is currently 82 percent leased to a roster of more than 30 tenants, including RR Donnelly, Dancing Deer Baking Co., and Sky Zone Boston. The permanent financing loan was arranged by Transwestern Partner Chris Skeffington and Vice President Andrew Stone through East Boston Savings Bank.
“First Highland’s hands-on management of the park makes it an attractive destination for both suburban and urban tenants, resulting in an asset with strong, durable cash flows,” said Skeffington. “East Boston Savings Bank recognized the value of urban industrial product in today’s market and proved to be a fantastic partner in this transaction.”
