Ten Essex Street - Cambridge, MACambridge, MA NAI Hunneman arranged the construction financing for Ten Essex St., a new, 46-unit, multifamily development in Central Sq., adjacent to the MBTA Station.
NAI Executive vice president Andrew Kaeyer and associate Nick Biondo arranged the $19 million construction financing with People’s United Bank on behalf of property owner the 3MJ Realty.
“We are excited to be able to arrange this financing that will help create a first-class multifamily project in the dynamic Central Sq. neighborhood,” said Kaeyer. “Ten Essex St. is the culmination of more than three years’ worth of planning and permitting and will become the centerpiece of 3MJ Realty’s Portfolio.”
Ten Essex St. recently began construction. The project is sutured between MIT and Harvard University and blocks from the corporate headquarters for Takeda, Pfizer and Novartis.
Headquartered in Boston, NAI Hunneman is a leading provider of commercial real estate services to corporations, institutions and the private market. NAI Hunneman is a member NAI Global, the premier network of independent commercial real estate firms and one of the largest commercial real estate service providers worldwide. NAI Global manages a network of 6,700 professionals and 375 offices throughout the world. NAI professionals work together with its global management team to help clients strategically optimize their real estate assets.