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Braintree Massachusetts- Doug Nickerson, President Nickerson Financial Corporation, Mashpee, Massachusetts has arranged a $8,250,000 loan on behalf of his client, Ten Forbes Associates, LP for Ten Forbes Road, Braintree Massachusetts. The property is a 94,000 square foot multi tenanted office building. It was acquired by Franklin Simon in 1974 and in 1984 was completely rehabbed to include an addition of the four story West wing. |
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The property is managed by the Simon Company and enjoys above average occupancy. It is strategically located near the intersection of Route 128 and the Southeast expressway and is in close proximity to the Sheraton Tara, and The South Shore Plaza. The four-story building has 230 parking spaces, some of which are covered. The property is attractively landscaped and has been well maintained.
The Simon Companies will continue to manage the property. Ten Forbes Road is but one of many commercial and multi family properties owned and managed by the Simon companies.
The loan has a fixed rate for ten years at 6.38%, amortized over thirty, and is non-recourse.
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