Bain Capital JV Buys Boston Industrial Facility for $19M
- Apr 23, 2020
Bain Capital Real Estate and Oliver Street Capital have spent $19.4 million to acquire a 180,000-square-foot industrial facility in Winchester, Mass. An affiliate of Tighe Logistics Group sold the property, while Harbor One Bank originated $13.3 million in acquisition financing for the new owners.
Located at 45 Holton St. within the Wilmington/Winchester submarket, the asset is less than 2 miles from Interstate 93 and roughly 11 miles north of downtown Boston. The single-story building features 26-foot clear heights, 33 loading docks, two drive-in doors and 10 percent office finish. At the time of sale, the facility was leased to Tighe Logistics Group and Archive America.
Directors Jamey Lipscomb, Chris Decembrele and Chris Lawrence, Senior Director Matt Sherry and Assistant Vice President Zach Gramlich from JLL worked on behalf of the seller. Senior Director Brett Paulsrud and Associate Sam Campbell from the capital market debt placement team arranged the financing. In January, Paulsrud secured a $12.9 million loan for the acquisition of a 115,551-square-foot mixed-use property in Boston.