Image courtesy of Farley White.

Two weeks before it is scheduled to break ground, New Hampshire’s first mass timber building has landed construction financing.

Colliers International Boston Senior Vice Presidents John Broderick and Stephen Horan of the Capital Markets team arranged over $29 million of creative financing for Farley White’s 90 and 100 Arboretum Drive assets at Pease International Tradeport in Newington. Farley White acquired 100 Arboretum Drive in 2004 and expanded it from about 60,000 square feet to just shy of 130,000 square feet six years ago as a result of rapid growth by the building’s largest tenant, Long Term Care Partners.

Now, Farley White plans to add office space among its assets in the sought-after Pease area. The firm plans to begin construction on Oct. 17 of a speculative, 72,000-square-foot building next-door at  9 Arboretum Drive. The building, slated to open in early 2020, will utilize unique building materials and techniques that incorporate cross-laminated timber frames throughout, a metal panel rain screen exterior skin and hyper-efficient VRV HVAC system.

Colliers’ Capital Markets team worked with Berkshire Bank to arrange Farley White’s $29 million capital package, announced Oct. 3,  simultaneously locking in long-term financing on the existing structure while providing a floating rate construction loan on the new building, which will convert to a long-term fixed rate upon completion.

“We enjoyed working side-by-side with our long-time client, Farley White, on this complex project,” Horan said in a statement. “We’re excited they are in a position to take advantage of the Pease Development area’s favorable market conditions and can grow their Newington campus to accommodate anticipated demand.”