Acore Capital has delivered a financing package of $ 105 million for the Seyon Group, according to Yardi research data and public registers. The loan is supported by a flex -industrial collection spread throughout the Greater Boston area and Philadelphia and hinders at least 11 warehouses and distribution centers.
The properties that we have identified in total almost 600,000 square feet combined over about 57 hectares, with facilities ranging from 29,584 to 99.171 square feet. Built between 1971 and 1989, all docking and grade level doors, large column distance, isolated ceilings, fire sprayers and clear heights have between 16.5 and 20 feet.
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The Seyon Group bought this collection from a different group of sellers between June 2024 and July this year. These are the 11 identified properties, 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 Penaly 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 in separate transactions. Decota Enterprises sold 75, 81 and 89 York Ave. In three separate transactions for a combined $ 20 million. The most recent aqusities include the transaction of $ 12.5 million with 300 Willow St. and 125 flagship drive. The duo was picked up in July of this year, from seller Bayfield Development, in a deal that was mediated by JLL.
Boston Industrial Market sees its share in the activity
The industrial vacancy of Boston was 10.6 percent from June, according to a recent Yardi Matrix report. Although the figure was higher than the national average of 9.0 percent, 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 the same footing with the current trends on industrial real estate, with the nation now in the aftermath of historical levels of delivery.
The Boston area has recently seen its part of activities involved. Carlisle Capital Corp. received a loan of $ 92 million for a campus with three buildings in Wilmington, Massachusetts, in a deal organized by JLL. And in May Hines paid Global Income Trust a good $ 267 million for a few industrial portfolios, a total of 2.5 million square feet, in the Savannah-Hilton Head and Boston areas.
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