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A joint venture of Hingham-based Jumbo Capital Management and Angelo Gordon Co. of New York has acquired two office buildings totaling 332,194 square feet on Wells Avenue in Newton for $62.3 million.
The properties at 7-57 and 75-85-95 Wells Ave. are 95 percent leased to tenants including EMC, Ericsson and Ascensus.
HFF’s Coleman Benedict and Ben Sayles represented the seller, an affiliate of Normandy Real Estate Partners, and procured the buyer. HFF’s debt and equity placement team of Lauren O’Neil and Brett Paulsrud obtained a 5-year, fixed-rate first mortgage for $47.1 million and a facility for future tenanting and capital costs. Mark Terry and Jonpaul Sallese represented East Boston Savings Bank in the mortgage transaction.
Founded in 2009, Jumbo Capital has 2.25 million square feet of commercial real estate under management.
