Cambridge Savings Bank Provides $38.2M Construction Loan For Boxborough Development Site

Campanelli has secured a $38.2 million construction loan from Cambridge Savings Bank to expand The Park at Beaver Brook in Boxborough, Massachusetts. The development site, spanning 486,985 square feet, was initially acquired in 2021 by Robert DeMarco, who is also the landlord in this transaction.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $38,200,000
• Address: 100 Beaver Brook Road, Boxborough, MA
• Market: Boxborough, MA

The deal was brokered by Margaret Fee, Michael Frisoli, Torin Taylor, and Tyler McGrail from Newmark. They represented the parties involved in the transaction, including Robert DeMarco as the landlord. The loan was obtained from Cambridge Savings Bank, facilitating the expansion project at The Park at Beaver Brook.

It's worth noting that the construction loan will support the development endeavor to enhance and grow The Park at Beaver Brook, which is already a well-established property in Boxborough.