Exclusive: ACORE Provides $105M for New England Portfolio

September 18, 2025

Finance Boston Featured Industrial More Mid-Atlantic News Northeast Philadelphia

All properties are industrial, the majority around Boston.

Exterior image of 290 Vanderbilt Avenue, an industrial property in Norwood, Mass. — The collection includes flex industrial facilities, such as 290 Vanderbilt Ave. in Norwood, Mass. *Image courtesy of Yardi Research Data*

ACORE Capital has provided a $105 million financing package for The Seyon Group, according to Yardi Research Data and public records. The loan is backed by a flex industrial collection spread across the Greater Boston area and Philadelphia and encumbers at least 11 warehouses and distribution centers.

The properties we identified total almost 600,000 square feet combined across some 57 acres, with facilities ranging from 29,584 to 99,171 square feet. Built between 1971 and 1989, all properties have dock-high and grade level doors, ample column spacing, insulated ceilings, fire sprinklers and clear heights between 16.5 and 20 feet.

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The Seyon Group purchased this collection from a various group of sellers between June 2024 and July of this year. These are the 11 properties identified, acquired for a total of $97.5 million:

75, 81 and 89 York Ave. in Randolph, Mass.
50 North St., 40 Industrial Drive and 40 Hudson Road in Canton, Mass.
300 Willow St. and 125 Flagship Drive in North Andover, Mass.
40 Strafello Drive in Avon, Mass.
290 Vanderbilt Ave. in Norwood, Mass.
2100 Cabot Blvd. West in Langhorne, Pa.

Some of these assets, such as the properties in Randolph, were purchased from the same seller across separate transactions. DeCota Enterprises sold 75, 81 and 89 York Ave. in three separate transactions for a combined $20 million. The most recent acquisitions include the $12.5 million transaction involving 300 Willow St. and 125 Flagship Drive. The duo was picked up in July this year, from seller Bayfield Development, in a deal brokered by JLL.

Boston’s industrial vacancy rate stood at 10.6 percent as of June, according to a recent Yardi Matrix report. Even though the figure was higher than the 9.0 percent national average, the metro performed better than Miami (11.8 percent), New Jersey (11.0 percent) and Dallas-Fort Worth (10.9 percent). The increase in vacancy is on par with current industrial real estate trends, with the nation now in the wake of historic levels of supply.

The Boston area has seen its share of activity involving industrial assets as of late. Carlisle Capital Corp. landed a $92 million loan for a three-building campus in Wilmington, Mass., in a deal arranged by JLL. And in May, Hines Global Income Trust paid a hefty $267 million for a pair of industrial portfolios, totaling 2.5 million-square-foot, in the Savannah-Hilton Head and Boston areas.