CIBC Lends $80M to Fund Boston-Area Office Acquisition
September 19, 2018
Hilco Real Estate, an Illinois-based company that buys and repositions real estate, has secured a $79.8 million balance-sheet loan from the Canadian Imperial Bank of Commerce (CIBC) to acquire a two-building office complex near Boston, according to an announcement from Colliers, which brokered the financing.
The property, CenterPoint, comprises 443,000 square feet of office space primed for use as laboratory and research-and-development facilities. Located at 41 Seyon Street and 43 Foundry Avenue in Waltham, Mass., about eight miles west of Boston, the campus currently hosts Repligen, a company that develops technology used to make pharmaceuticals; Education Development Center, a nonprofit that creates academic programs; and Simpson Gumpertz & Heger, a structural engineering firm.