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 14asset 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.
ABOUT NOVAYA REAL ESTATE VENTURES
Novaya Real Estate Ventures is a Boston based private real estate investment firm that creates value for
its clients and investors by leveraging their local expertise, proprietary market relationships, and
management acumen and creative deal structuring. The founding team of Jim Alden, Peter Carbone, Jeff
Theobald and Scott Tully has over 100 combined years of real estate experience including institutional
asset management, private equity, real estate law and venture capital.
ABOUT WHEELOCK STREET CAPITAL
Wheelock Street Capital L.L.C. is a private real estate investment firm founded in 2008 by Merrick R.
Kleeman and Jonathan H. Paul and headquartered in Greenwich, CT and Boston, MA. Wheelock focuses
on real estate investments throughout North America and will invest in both public and private market
opportunities and in all parts of the capital structure. The firm is a trustworthy source of capital for
borrowers seeking to recapitalize overleveraged properties and portfolios. Our capital funding gives us
the flexibility to pursue investment opportunities of all sizes, from single assets to corporate or portfolio
investments of over $1 billion. Backed by established institutional capital, Wheelock has raised four
funds to-date, the latest of which closed in April of 2014 with $625 million in capital commitments.
ABOUT CALARE PROPERTIES, INC.
Calare Properties, Inc. is a real estate operator focused on acquiring and managing warehouse,
manufacturing, research and flex/office assets primarily in the Northeast. The firm provides investment,
asset management, leasing and property management expertise to drive performance at all stages of
the investment process from acquisition to disposition. Calare has led the acquisition of over 15 million
square feet of properties, representing $650 million in real estate transactions through funds, direct
deals and a multi-asset portfolio.
ABOUT COLLIERS
Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIG) is a global leader in commercial real estate
services with more than 16,146 professionals operating from 554 offices in 66 countries. With an
enterprising culture and significant insider ownership, Colliers professionals provide a full range of
services to real estate occupiers, owners and investors worldwide. Services include brokerage, global
corporate solutions, investment sales and capital markets, project management and workplace
solutions, property and asset management, consulting, valuation and appraisal services, and customized
research and thought leadership. Colliers International has been ranked among the top 100 outsourcing
firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 10
consecutive years, more than any other real estate services firm.
For further information, please contact Lyndsey Hmura at (617) 330-8188
or at lyndsey.hmura@Colliers.com.