{"id":1004525456,"date":"2021-04-30T03:55:51","date_gmt":"2021-04-30T11:55:51","guid":{"rendered":"http:\/\/internal.cpexecutive.com\/?p=1004525456"},"modified":"2021-07-16T03:16:06","modified_gmt":"2021-07-16T11:16:06","slug":"natixis-provides-105m-loan-for-industrial-portfolio-purchase","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/natixis-provides-105m-loan-for-industrial-portfolio-purchase\/","title":{"rendered":"Natixis Provides $105M Loan for Industrial Portfolio Purchase"},"content":{"rendered":"<div id=\"attachment_1004543805\" style=\"width: 310px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004543805\" data-attachment-id=\"1004543805\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/natixis-provides-105m-loan-for-industrial-portfolio-purchase\/42-industrial-way2-image-via-google-street-view\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/42-Industrial-Way2.-Image-via-Google-Street-View-e1626434144592.jpg\" data-orig-size=\"919,688\" 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=\"42 Industrial Way. Image via Google Street View\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;42 Industrial Way. Image via Google Street View&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/42-Industrial-Way2.-Image-via-Google-Street-View-e1626434144592.jpg?w=919\" class=\"size-medium wp-image-1004543805\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/42-Industrial-Way2.-Image-via-Google-Street-View-e1626434144592.jpg?w=300\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/42-Industrial-Way2.-Image-via-Google-Street-View-e1626434144592.jpg 919w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/42-Industrial-Way2.-Image-via-Google-Street-View-e1626434144592.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/42-Industrial-Way2.-Image-via-Google-Street-View-e1626434144592.jpg?resize=768,575 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><p id=\"caption-attachment-1004543805\" class=\"wp-caption-text\">42 Industrial Way. Image via Google Street View<\/p><\/div>\n<p>Natixis recently provided an approximately $104.8 million loan for Oliver Street Capital and Bain Capital Real Estate\u2019s acquisition of the Boston Infill Portfolio, a 687,000-square-foot group of industrial properties in suburban Boston. The financing helped facilitate the joint venture\u2019s <a href=\"https:\/\/www.commercialsearch.com\/news\/boston-area-industrial-portfolio-commands-154m\/\" target=\"_blank\" rel=\"noopener\">purchase of the portfolio<\/a> from I. Fred Dicenso Trust LLC for a total of $154 million.<\/p>\n<p>Natixis supplied Oliver Street and Bain with a five-year, floating-rate loan, arranged on the borrowers\u2019 behalf by Tim O\u2019Donnell and David Douvadjian, Jr. of Newmark\u2019s debt group.<\/p>\n<p>\u201cNatixis continues to lend on assets that have demonstrated resiliency in this environment and industrial has been a leading sector where we continue to see financing opportunities,\u201d Mike Magner, co-head, Real Estate &amp; Hospitality Americas, with Natixis Corporate &amp; Investment Banking Americas, told <em>Commercial Property Executive<\/em>.<\/p>\n<hr \/>\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/port-volumes-help-fuel-industrial-real-estates-fire\/\" target=\"_blank\" rel=\"noopener\">Port Volumes Help Fuel Industrial Real Estate\u2019s Fire<\/a><\/p>\n<hr \/>\n<p>The 49-acre Boston Infill Portfolio sits just 15 miles from downtown Boston in Wilmington, Mass. The collection encompasses eight buildings, all of which are positioned in high-barrier-to-entry infill locations near Interstates 93 and 95. The list of properties consists of 21, 42, 65 and 80 Industrial Way; 42 and 80 Rear Industrial Way; 1 Progress Way; and 844 Woburn Street.<\/p>\n<p>The portfolio is a lender\u2019s dream. At the time of the sale transaction, the group of industrial facilities was 96 percent leased to 27 tenants, including Crate &amp; Barrel, Energy Sciences, 3Step Sports and Altro USA Inc. Additionally, the portfolio, which boasts an average occupancy of 97 percent since 1998, offers upside potential through lease rollover with in-place rents that are 27 percent below market rate.<\/p>\n<h2><strong>It\u2019s the Asset, Not the Asset Type<\/strong><\/h2>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/under-pandemic-pressure-capital-markets-adapt\/\" target=\"_blank\" rel=\"noopener\">Pandemic-induced disruption<\/a> led to an estimated 27.5 percent year-over-year decline in commercial real estate financing activity, according to a fourth quarter 2020 capital markets report by Newmark. Overall, lending went on the upswing for industrial property but decreased in the office sector. However, <a href=\"https:\/\/www.commercialsearch.com\/news\/lending-across-cre-sectors-qa\/\" target=\"_blank\" rel=\"noopener\">2021 appears to be bringing change<\/a>, as more lenders give office assets a second look, particularly those properties in growth markets.<\/p>\n<p>As for Natixis, the company has continued to look at opportunities based on assets, as opposed to asset types.<\/p>\n<p>In the first quarter of 2021, Natixis supplied a $39.3 million loan for the refinancing of Remount I &amp; II, a 300,000-square-foot, two-building office complex in North Charleston, S.C., that caters predominantly to high technology integration and government contractors.<\/p>\n<p>The multinational financial services firm also provided $82.5 million in financing for a 435,000-square-foot office campus leased to government, non-profit and healthcare tenants in Orange County, Calif.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oliver Street Capital and Bain Capital Real Estate used the financing for the $154 million acquisition of eight properties near Boston.<\/p>\n","protected":false},"author":969,"featured_media":1004527481,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21743,21825,21748,21742,10],"tags":[45194,34029],"class_list":["post-1004525456","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-deals","category-finance","category-industrial","category-latest","category-northeast","tag-bain-capital-real-estate","tag-natixis"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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