BOSTON, MA – Holliday Fenoglio Fowler, L.P. (HFF) announced 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.”