BOSTON– Holliday Fenoglio Fowler, L.P. (HFF) announced that it has arranged $21.6 million in first mortgage financing for Hathaway Lofts, a recently-completed, Class A multi-housing community in the Porter Square neighborhood of Cambridge, Massachusetts.
Working on behalf of Camco Management Company, HFF placed the 10-year, 3.23 percent, fixed-rate loan through a correspondent life insurance company.
Formerly the Hathaway Bakery, Hathaway Lofts was completed renovated and restored into a luxury residential community comprising 46 loft-style, condominium-quality apartments.
The building offers 35 distinct floor plans in loft, duplex and flat configurations and incorporates the bakery’s historic attributes such as exposed brick walls, 10’ to 17’ ceiling heights, wood beams and industrial style windows. The community was fully pre-leased prior to construction being completed and opened in June 2016.
Situated at 15 Richdale Avenue, Hathaway Lofts is in close proximity to numerous restaurants, boutiques and cultural offerings in Cambridge and is located just two blocks from the MBTA Porter Square Station, providing direct access to Harvard Square, Kendall Square and downtown Boston.
The HFF debt placement team representing the borrower was led by director Brett Paulsrud and senior real estate analyst Xave Jacoby.
“Hathaway Lofts offers unique, luxury, loft-style living that is unparalleled in today’s market,” said Paulsrud. “It was a pleasure working with Camco Management to meet the financing objectives for this one-of-a-kind project.”
