An industrial facility in Lawrence, Mass., tapped ACRES to fund a $14.6 million loan to finance the repositioning and lease-up of the facility. The property is comprised of the following:
Aside from targeting traditional industrial tenants, the sponsor is positioning the property to be a hub for biotech and robotics startups.
Conveniently located 30 minutes outside of Boston, the property represents an appealing flex-industrial option for companies looking to take advantage of attractive and attainable space.
Exantas Capital Corp.is externally managed by ACRES Capital, LLC. The Company’s primary investment strategies include transitional commercial real estate loans and longer duration commercial real estate credit investments, such as commercial mortgage-backed securities. To see more on EXANTAS, click below.