Last week CIT Real Estate Finance provided a $21.5 million senior secured loan to Normandy Real Estate Partners, landlord of the Westford Corporate Center on Carlisle Road.
Located just past the Paul’s Diner Plaza, Westford Corporate Center holds several tenants, most notably the headquarters for Cynosure, a cosmetic laser company.
“This transaction highlights our continued efforts to meet the financing needs of our middle market commercial real estate clients in a way that positions them for success,” said President of CIT Real Estate Finance Matt Galligan in a released statement.”Normandy has been extremely active in the Greater Boston area, where it owns or manages more than 30 commercial properties. We look forward to building on this relationship.”
Last fall, Cynosure came before the Westford Board of Selectmen to discuss potential structural improvements to the campus, which has over 500 parking spots.
More information on Normandy Real Estate Partners is available on their website.
