HFF announces $32.6M financing for 625 Mount Auburn Street in Cambridge
BOSTON, MA – September 6, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces the acquisition financing for 625 Mount Auburn Street, a 137,421-square-foot, three-story, Class A office building in Cambridge, Massachusetts.
The HFF team worked on behalf of the borrower, The Davis Companies, to secure the $32.6 million, fixed-rate loan through BBVA Compass Bank. Loan proceeds were used to acquire the property, in a sale arranged by HFF.
625 Mount Auburn Street is situated in the West Cambridge submarket of Cambridge, conveniently located next to an MBTA bus line providing direct service to and from Harvard Square and the MBTA Red Line station. The 3.03-acre site is also proximate to Route 2 and the Massachusetts Turnpike (Interstate 90), providing vehicular access to the suburban executive communities of Wellesley, Weston and Newton, among others. The 98.5-percent-leased property is anchored by Charles River Analytics, Mount Auburn Hospital and several other technology tenants. Renovated in 2001, 625 Mount Auburn Street features a two-story atrium, fitness center, café area and free on-site parking.
The HFF debt placement team representing the borrower included senior director Brett Paulsrud and analyst Connor Allen.
“HFF was able to work closely with The Davis Companies’ team to secure a loan that met all their objectives for the asset,” said Paulsrud. “The property is a great addition to The Davis Companies’ portfolio and I look forward to watching them execute the business plan they have in place. It is always a pleasure to work with such a best-in-class organization.”
About The Davis Companies
Committed to excellence in both investment performance and operations, The Davis Companies is an integrated real estate investment, development and management firm headquartered in Boston that has invested more than $4 billion in gross asset value through real estate equity, debt, and fixed-income securities. A unique combination of capital markets, development and management expertise allows The Davis Companies to nimbly tackle complex and contrarian opportunities. Directly, and with its valued partners, The Davis Companies currently owns a real estate portfolio of approximately 12 million square feet across the Eastern United States. For more information on The Davis Companies please visit thedaviscompanies.com.
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). For more information please visit hfflp.com or follow HFF on Twitter @HFF.