The three-building office campus at 140 Kendrick St. in Needham secured a $72.6 million mortgage from Barings, a subsidiary of MassMutual.

The financing supports the December 2025 acquisition of the campus by a joint venture of Lincoln Property Co. and Cross Ocean Partners of Greenwich, Connecticut. The loan closed Aug. 13, according to a Norfolk County mortgage record first reported by Banker & Tradesman.

The joint venture bought the 409,197-square-foot property from BXP for $132 million in December 2025, with brokerage Newmark arranging the sale, the Boston Globe reported at the time.

The campus sits on 14.3 acres along Route 128/Interstate 95, roughly 15 miles southwest of downtown Boston, according to a Barings press release issued Aug. 24. It was 96 percent leased at the time of the acquisition.

Tenants include Wellington Management, Clarks and Walker & Dunlop, according to Banker & Tradesman. The Globe's December 2025 reporting also listed CyberArk and Focus Partners Wealth as tenants.

Jonathan Neff, managing director at Barings, said in the Aug. 24 statement that the property's leasing track record and experienced ownership group made it an attractive financing opportunity. Scott Faber, senior vice president at Lincoln Property Co., said the Barings partnership reflects confidence in the campus.

The property was originally developed in 2000 as the headquarters of Parametric Technology Corp., or PTC. The company relocated to Boston's Seaport District in 2019. BXP then invested $27.8 million in capital improvements to attract new tenants.

The campus includes a fitness center, full-service café, coffee bar, conference center and outdoor gathering spaces. It is adjacent to the 600-acre Cutler Park Reservation.

Cross Ocean Partners Management has $10.7 billion in assets under management. Barings reported $502 billion in assets under management as of June 30.

The campus remains one of the largest office properties along the Route 128 corridor in Needham, with the new financing in place roughly eight months after the ownership change.