Brookwood Financial Partners has acquired Medford, Massachusetts-based Ten Cabot, an office building. No financial terms were disclosed.
BEVERLY, Mass., Jan. 11, 2022 /PRNewswire/ — Brookwood Financial Partners, LLC (“Brookwood”), a nationally-recognized private equity investment firm, announced today it has acquired Ten Cabot, a 107,026 square foot Class A office building located in Medford, MA.
Ten Cabot is currently 96.9% occupied and benefits from its central location along Rivers Edge Drive in the city of Medford, a commuter-friendly suburb that is only five miles from downtown Boston and connects to Interstate-93 and Route 1 via the Mystic Valley Parkway or Route 16. Additionally, Ten Cabot is accessible through the Massachusetts Bay Transportation Authority’s (MBTA) Orange Line commuter train line at Wellington Station, which is only a five-minute walk from the property.
Ten Cabot is particularly well-situated for those tenants that have been pushed out of nearby office space due to expanding demand for life science space. It is also proximate to major amenity centers, such as Assembly Row, a 45-acre, master-planned, mixed-use development in the neighboring city of Somerville with more than 800,000 square feet of retail and dining options.
“We were attracted to the Ten Cabot property due to its highly-appealing location in close proximity not only to major thoroughfares and outstanding amenities, but also to the area’s booming life sciences and pharmaceutical industries, and other growing employment hubs throughout the Boston area,” said Thomas W. Brown, Brookwood’s President and Director of Real Estate Acquisitions. “KS Partners, which sold the property, did an excellent job repositioning the building, and our business plan is to continue to invest in select cosmetic and capital improvements in order to further improve the property and maintain its high occupancy.”
Brookwood has had a long and successful history of investing in Massachusetts. Since 2005, it has acquired 26 properties in the state totaling nearly 2.2 million square feet of office and industrial buildings, including: 75 Sylvan in Danvers; 2189 Westover Road in Chicopee; 300 Jubilee Drive in Peabody; Brookwood Business Center in Billerica; the Cherry Hill Portfolio in Beverly; Norwood Park South in Norwood; One Alewife in Cambridge; and Vantage Place in Milford. Including Ten Cabot, Brookwood’s current New England portfolio consists of nearly 1.2 million square feet in Massachusetts and Rhode Island.
About Brookwood Financial Partners, LLC – Brookwood is a private equity investment firm that specializes in acquiring and managing commercial real estate and real-estate related operating businesses on behalf of its investors, which include Wall Street investment banks, sovereign wealth funds, college endowments, public and private pension funds, family offices, and high net worth individuals. Since its founding in 1993, Brookwood has invested over $1.7 billion of equity to acquire a portfolio of over 200 commercial real estate properties, seven operating companies, and 451 gas stations and convenience stores. Its $4.2 billion historical portfolio has spanned multiple asset classes, geographical markets, and industries across the United States. To find out more about Brookwood, visit www.brookwoodfinancial.com