Envision Bank Provides $6M Acquisition Loan For Industrial Property In Chelsea, MA

The industrial property located at 25 Griffith Way in Chelsea, MA has been involved in a recent closed transaction. With a total square footage of 20,060, this property offers ample space for industrial activities in the area. The transaction took place on 09/02/2021.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $6,000,000
• Address: 25 Griffith Way, Chelsea, MA
• Market: Chelsea, MA

The loan for this transaction was provided by Envision Bank, with Nancy Curry serving as the representative from the lender's side. The loan amount totaling $6,000,000 was obtained for the purpose of acquisition. The terms of the loan are five-year, fixed-rate, ensuring a stable financial arrangement for the acquiring party.

The Farahani Family, represented by Mani & Milad Farahani, acted as the landlord in this transaction. They played a crucial role in facilitating the acquisition of the industrial property. Leading the deal on the buyer's side were Michael Restivo and Henry Schaffer from JLL Capital Markets, who acted as the brokers.