Holliday Fenoglio Fowler handles recapitalization financing of $51 million for 1030 Massachusetts Avenue

Cambridge, MA Holliday Fenoglio Fowler, L.P. (HFF) has arranged $51 million in recapitalization financing for 1030 Massachusetts Ave., a 77,805 s/f, class A, laboratory/biotechnology building within walking distance of Harvard Sq.

1030 Massachusetts Avenue - Cambridge, MA

Working on behalf of the borrower, an affiliate of Longfellow Real Estate Partners, HFF placed the five-year, fixed-rate loan with Capital One Healthcare.

1030 Massachusetts Ave. was renovated into a class A biotech/laboratory building to cater to the high tech bio tenant base in the surrounding market. The four-story property is fully leased to seven tenants: five biotech tenants, an indoor cycling studio, and a restaurant slated to open this summer. Situated within walking distance of both Harvard and Central Sqs., 1030 Massachusetts Ave. has access to numerous restaurants, shopping, and entertainment as well as public transportation providing access to downtown Boston, three miles southeast.

“Speed to closing was one of the critical elements for Longfellow. From the beginning of HFF’s marketing process to the closing was a span of only 49 days,” said Greg LaBine, managing director of HFF. “Capital One moved very quickly and efficiently, dual tracking due diligence and legal to make this happen.”

About Longfellow Real Estate Partners

Longfellow Real Estate Partners serves the unique demands of science and technology companies and focuses on the most innovative cluster locations in the US. The firm acquires and develops facilities in strategic locations and builds long-term relationships with research-centric organizations including life science companies, universities, medical centers and research institutes. The principals of Longfellow have developed more than 3.5 million square feet of laboratory and high tech space over their careers including numerous high profile projects on the East Coast. The company’s institutional capabilities and entrepreneurial vision enables Longfellow to deliver high quality laboratories and innovation space while satisfying each tenant’s unique requirements. lfrep.com

About HFF

HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.