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MassDevelopment

Pepperell Place

MassDevelopment provided a $2.25 million loan to Lexvest Chapel LLC for renovations to its Pepperell Place building. The company used loan proceeds to upgrade the building systems, lobbies, and core. Exterior improvements included new windows and doors, landscaping, and hardscaping. Other amenities, such as a common conference room, break room, and fitness room, are underway. MassDevelopment previously assisted the Lexvest Group in financing the Phoenix Park redevelopment, which Lexvest estimates will create 100 jobs.