Real Estate

Normandy Buys 28-Acre Needham Property

It was a $55 million deal.

A Normandy Real Estate Partners affiliate acquired a former General Dynamics facility and three related parcels in Needham in late-December.

According to county and town filings, Needham Nine Owner LLC, a Massachusetts-based entity that lists various Normandy principals as its executive officers, acquired the property on December 29.

The deal was financed in part by a $30 million mortgage financed by Ladder Capital Finance, Boston Business Journal reported.

Find out what's happening in Needhamfor free with the latest updates from Patch.

According to Needham property records, the $55 million deal totals 28 acres and includes a 15-acre parcel at 77 A St. in Needham. The property has an assessed value of $35 million while the three other parcels amount to another 13 acres of land.

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Find out what's happening in Needhamfor free with the latest updates from Patch.

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