Thursday, December 6, 2012

HFF arranges $62.3 million construction loan for The Residences at Fresh Pond in Cambridge, MA



The Residences at Fresh Pond, Cambridge, MA
BOSTON, MA – HFF announced today that it has arranged a $62.3 million construction loan for The Residences at Fresh Pond, a 428-unit, Class A multi-housing development in Cambridge, Massachusetts.

                HFF worked on behalf of the borrower, O’Connor Capital Partners, to secure the four-year, fixed-rate loan through RBS Citizens.  The loan has one 12-month extension option.

Riaz Cassum
                The Residences at Fresh Pond will be built in two phases.  Phase one will have 260 units and 251 parking spaces, and phase two will have 168 units and 151 parking spaces.  The one- and two-bedroom units will average 873 square feet.  Community amenities will include a swimming pool, roof deck lounge, bocce court, fitness center, movie theatre, community club room and internet lounge. 

The Residences at Fresh Pond is located at 70 Fawcett Street near the Alewife MBTA station and the Fresh Pond Reservation area in west Cambridge.

                The HFF team representing O’Connor Capital Partners was led by senior managing director Riaz Cassum.
  
For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 |



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