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| Martha Nay |
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| Adam Dunn |
BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF)
announces the $15 million construction take-out, permanent financing for Sphere, a brand-new, 42-unit luxury
multi-housing building in Medford, Massachusetts.
The HFF team worked on behalf of the borrower, Dark Horse
Capital Partners, to secure the seven-year, fixed-rate loan through HarborOne
Bank.
Delivered in July 2017, Sphere features 22 one-bedroom
units and 20 two-bedroom units with nine different floorplans located at 640
Boston Avenue in Medford on the Somerville/Medford townline.
Situated at the foot of the future Ball Square Green Line
station, the transit-oriented asset offers residents a real neighborhood (Ball
Square) with stress-free living, nearby bakeries, retro diners, pubs,
neighborhood restaurants and small shops.
Sphere is within five minutes of the community bike path
that links the property to nearby neighborhoods, including Davis Square, Porter
Square, and Arlington Center, among others.
Additionally, Interstate 93 is a few blocks from the property providing
vehicular access to Boston and the surrounding suburbs.
The HFF debt placement team representing the borrower was
led by director Martha Nay, with
support from director Adam Dunn and
analyst Sam Campbell.
“Sphere is an exceptional product in a highly desirable,
transit-oriented location,” Nay said.
“Ball Square is in the midst of a transformation, and Sphere’s success
is a testament to what’s to come. Dark Horse and HarborOne performed flawlessly
throughout this very successful transaction, and it has been a pleasure working
with both parties toward a strong outcome.”
For more
information on this press release, please contact:
Kristen M. Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA
02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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