National CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Boston Inner Suburbs MXU Secures $205M Financing
Affiliates of Charles River Realty Investors, National Development and AEW Capital Management secured $205 million in financing for The District Burlington, a mixed-use property in Burlington, MA, 15 miles northwest of Boston. HFF worked on behalf of the borrower to secure the seven-year, fixed-rate permanent loan through an institutional life insurance company.
The 85%-leased property includes more than one million square feet of office and retail space, and is located adjacent to Route 128/Interstate 95 and the Burlington Mall. The asset was repositioned and rebranded through the complete redesign of the park infrastructure and the development of a 30,000-square-foot retail cluster.
A 350-space parking garage was added, Building 700 was repositioned and expanded, and a walkable amenity package was created, including a new Residence Inn by Marriott, an 8,000-square-foot fitness center and space for yoga and meditation classes
HFF’s Fred Wittmann, Greg LaBine and Robyn King represented the borrower.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
