15 May Condyne Companies Completes Recapitalization with Investcorp
Condyne Companies has announced the recapitalization of its Norton, Fall River, and Taunton industrial portfolio that totals 1.1 million square-feet (s.f.) and spans across the Southeastern Massachusetts region. Condyne Companies partnered with New York based investment firm Investcorp on the transaction. Investcorp is a global provider and manager of alternative investment products that currently has more than $21.4 billion of assets under management. The recapitalized assets with Condyne include 10, 15, and 50 Commerce Way in the Norton Commerce Center, 81 Commerce Drive in the Fall River Industrial Park, and 220 O’Connell Way in the Crossroads Commerce Center in Taunton. The transaction consists of 6 buildings comprised of warehouse, distribution, and flex properties.
The investment is attractive to Investcorp because of the well-located assets all within minutes of Route 24, 495, and 95 for ease of distribution. In addition, the e-commerce sector has exhibited a significant growth causing an increased demand for industrial space. These specific properties have a solid record of attracting and maintaining a wide spectrum of reliable tenants that have diversified Condyne’s investment portfolio over time.
Condyne Companies is a vertically integrated real estate development firm based in Braintree, Massachusetts. The firm provides a single source for all development needs in the New England market; including consultation, design, engineering, construction, and property management. To date, the principals have developed in excess of 10 million square feet of space in multiple real estate product segments based on their knowledge, strengths, and relationships within the real estate industry. It is focused on continued development, construction, design, and engineering of industrial, warehouse, food related, and office assets throughout New England. The principals’ depth of experience, consultative approach, geographic focus, vertical integration, and deal sourcing have made Condyne Companies a premiere development firm in the region.