WHEELOCK AND NOVAYA, REPRESENTED BY COLLIERS, COMPLETE THE SALE OF TWO FLEX PROPERTIES TO CALARE PROPERTIES, INC.

Boston, May 11, 2016 – The Boston office of Colliers International successfully represented Wheelock Street Capital (Wheelock) and Novaya Real Estate Ventures (Novaya) in the $14,125,000 sale of two flex properties located in Marlborough, MA. The two-property sale is an immediate by-product from the 14-asset portfolio that was previously acquired in March 2016. Purchased by Calare Properties, Inc., the properties total 134,404 square feet and are located at 261 Cedar Hill and 753 Forest Street, respectively. The Colliers International Investment Sales team consisting of Senior Vice Presidents Doug Jacoby and Scott Dragos along with team members Tony Hayes, Tim Mulhall and Dan Hines facilitated this transaction on behalf of Wheelock and Novaya. “This transaction was positive for both parties. The sellers were able to divest two stabilized assets from their recent portfolio purchase and Calare was able to enhance their portfolio with two well leased flex properties.” notes Doug Jacoby, Senior Vice President, Colliers International.

In addition to the sale, Colliers International has also been awarded the leasing assignment for the properties.