An out-of-state bank whose residential mortgage-lending arm has been active in New Hampshire played a big role in financing a nearly-$100 million industrial real estate deal in August. 

HarborOne Bank arranged the $90 million loan to Boston investment firm R.J. Kelly Co. that allowed the latter to buy a portfolio of 14 industrial properties scattered across southern New Hampshire. Four other lenders put up $76.3 million as part of a syndicate to get the financing package over the $90 million finish line. 

The other lenders involved were: Massachusetts-based Salem 5 and Westfield Bank, Portsmouth’s Service Credit Union and Rhode Island’s Bank Newport. The consortium was needed to account for the current, volatile interest-rate environment. 

“This is a great partnership with a long-time New England leader in commercial real estate – and it is good news for Southern New Hampshire to have vibrant, renovated industrial sites in their communities,” HarborOne President and CEO Joseph F. Casey said in a statement. “HarborOne Bank’s portfolio of commercial real estate loans continues to grow through our relationships with some of the region’s most established names in commercial real estate investment, management, development, and construction.” 

HarborOne is based in Swansea, on Massachusetts’ border with Rhode Island. Its mortgage company arm, HarborOne Mortgage Co., is an active part of the New Hampshire residential real estate landscape. 

The portfolio houses 34 different tenants in Hudson, Nashua, Salem, Londonderry, Manchester and Amherst. 

“Given the recent market turmoil, the closing is a testament to the high-quality sponsorship team and HarborOne for championing the opportunity and truly understanding the value of the portfolio,” CBRE’s Rob Borden, who advised R.J. Kelly on the financing along with Andrew Stone, said in a statement. “The sponsor has a proven track record of execution that was critical in securing the loan.”