True North Management Group & Celera Properties Secure $35.3M Floating-Rate Loan For Andover Office Building

The property involved in this transaction is an office building located at 300 & 600 Federal Street in Andover, MA. The property has a total square footage of 233,726. It was acquired by True North Management Group & Celera Properties.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $35,340,000
• Address: 300 & 600 Federal Street, Andover, MA
• Market: Andover, MA
• Lender: OceanFirst Bank
• Borrower: True North Management Group & Celera Properties
• Brokers: Greg LaBine & Martha Nay - JLL Capital Markets

The loan for this transaction was provided by OceanFirst Bank. It is a floating-rate loan for the acquisition and repositioning of the property. The loan amount is $35,340,000.