{"id":1004174338,"date":"2017-04-26T23:17:20","date_gmt":"2017-04-27T07:17:20","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004174338"},"modified":"2022-12-08T20:55:32","modified_gmt":"2022-12-09T04:55:32","slug":"colliers-lends-a-hand-in-60m-mob-package-deal","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/colliers-lends-a-hand-in-60m-mob-package-deal\/","title":{"rendered":"Colliers Lends a Hand in $60M MOB Package Deal"},"content":{"rendered":"<p>By Mihaela Coste<\/p>\n<div id=\"attachment_1004174339\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/195-Collyer-St.-Providence-Rhode-Island.png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004174339\" data-attachment-id=\"1004174339\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/colliers-lends-a-hand-in-60m-mob-package-deal\/195-collyer-st-providence-rhode-island\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/195-Collyer-St.-Providence-Rhode-Island.png\" data-orig-size=\"560,375\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"195 Collyer St., Providence, Rhode Island\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;195 Collyer St., Providence, Rhode Island&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/195-Collyer-St.-Providence-Rhode-Island.png?w=560\" loading=\"lazy\" class=\"wp-image-1004174339 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/195-Collyer-St.-Providence-Rhode-Island.png\" alt=\"195 Collyer St., Providence, Rhode Island\" width=\"300\" height=\"201\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/195-Collyer-St.-Providence-Rhode-Island.png 560w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/195-Collyer-St.-Providence-Rhode-Island.png?resize=300,201 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004174339\" class=\"wp-caption-text\">195 Collyer St., Providence, Rhode Island<\/p><\/div>\n<p>Boston Capital Markets Group of Colliers International recently announced that it has closed the sale of the Blackstone Valley Medical Office Portfolio, a 10-building 301,700-square-foot institutional-quality portfolio of urban and suburban Class A medical office buildings. The assets are located in three distinct Rhode Island submarkets\u2013East Greenwich, Lincoln and Providence. Colliers represented the seller, F.H. French Co. Inc., a Rhode Island real estate firm, in the $60.5 million off-market transaction.<\/p>\n<p>Co-Chairman\u00a0Kevin Phelan and Executive Vice President\u00a0Scott Dragos led the sales team, being assisted by Executive Vice President\u00a0Doug Jacoby, Vice President\u00a0Tony Hayes, Assistant Vice President\u00a0Tim Mulhall and Associate\u00a0Dan Hines of Colliers&#8217; Boston office.<\/p>\n<p>Additionally, Jeff Black, senior vice president of Colliers International&#8217;s Boston-based debt team, assisted the buyer, Albany Road Real Estate Partners, in securing a $40 million acquisition loan through PNC Bank. The fixed-rate financing will be interest only for the initial 5-year term, providing an enhancement to cash flow during the ownership period.<\/p>\n<p>Albany Road\u2019s President Chris Knisley had been pursuing to acquire the portfolio for five years. Jen Cookke, the granddaughter of the original founder of the company, who now runs the firm, will continue to hold the management and leasing services for the assets.<\/p>\n<p>At the time of the transaction, the portfolio was 98 percent leased, maintaining this same average occupancy level between 2007 and 2016. The tenant roster includes Lifespan Rhode Island, The Miriam Hospital, Kent County Hospital, Anchor Medical, Coastal Medical and University Urological.<\/p>\n<p><em>Image courtesy of Colliers International<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 10-building Blackstone Valley Medical Office Portfolio encompasses 301,700 square feet of institutional-quality, Class A medical office space located across three Rhode Island submarkets.<\/p>\n","protected":false},"author":1192,"featured_media":1004174339,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21754,21742,10,21747],"tags":[35194,32763,35195,36278],"class_list":["post-1004174338","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-medical-office","category-latest","category-northeast","category-office","tag-albany-road-real-estate-partners","tag-colliers-international","tag-f-h-french-co-inc","tag-medical-office-building"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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