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Square Mile Lends $434M on DivcoWest’s Cambridge Crossing

Square Mile Capital Management originated a $433.8-million construction loan to finance the next phase of DivcoWest’s Cambridge Crossing master-planned development in East Cambridge, MA. The financing is for the development of parcels EF and Q1, which will contain lab, office, and retail space totaling 498,000 square feet.

Square Mile principal Sean Reimer said, “Divco West is a prominent developer and operator nationwide with expertise within the Cambridge life sciences market. The Cambridge Crossing development has already seen tremendous leasing momentum to date, and is further positioned for success due to its strategic market location. Given those facts, this transaction represented a terrific opportunity for us, and we are pleased to establish a lending relationship with DivcoWest.”

Overall, Cambridge Crossing is expected to contain 11 acres of open green space, 2.1 million square feet of science and tech space, 2.4 million square feet of residential and 100,000 square feet of retail.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
  • ◦Development