CIM Group Provides $147.65 Million Loan for 319,000-Square-Foot Office Building in Medford, Massachusetts
Loan proceeds will be used to finance the recapitalization and partial conversion of the building from all office use to a first-class office/R&D/life science facility.
- Loan proceeds will be used to finance the recapitalization and partial conversion of the building from all office use to a first-class office/R&D/life science facility.
- Located at 1 Cabot Road, the four-story building currently comprises 279,185 square feet of office space and 39,808 square feet of data center space.
- CIM Group is an active lender that through its CIM Real Estate Debt Solutions business recently closed a $148 million loan for a 460,000-square-foot office campus in Tysons Corner, Virginia.
- CIM Group seeks to provide senior and subordinate transitional bridge loans for commercial real estate projects with strong sponsors.