Monday, May 30, 2016

$51 million in recapitalization financing secured by HFF for Cambridge, MA biotech building

1030 Massachusetts Avenue, Cambridge, MA

Greg LaBine
 BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $51 million in recapitalization financing for 1030 Massachusetts Avenue, a 77,805-square-foot, Class A, laboratory/biotechnology building within walking distance of Harvard Square in Cambridge, Massachusetts.

Working on behalf of the borrower, an affiliate of Longfellow Real Estate Partners, HFF placed the five-year, fixed-rate loan with Capital One Healthcare.

1030 Massachusetts Avenue was renovated into a Class A biotech/laboratory building to cater to the high tech bio tenant base in the surrounding Cambridge market.  The four-story property is fully leased to seven tenants: five biotech tenants, an indoor cycling studio, and a restaurant slated to open in early summer 2016.

 Situated within walking distance of both Harvard and Central Squares, 1030 Massachusetts Avenue has convenient access to numerous restaurants, shopping, and entertainment as well as public transportation providing access to downtown Boston, just three miles southeast.

“Speed to closing was one of the critical elements for Longfellow.  From the beginning of HFF’s marketing process to the closing was a span of only 49 days,” said Greg LaBine, managing director of HFF.  “Capital One moved very quickly and efficiently, dual tracking due diligence and legal to make this happen.” 

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Director, Marketing
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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