HFF Arranges $35M Financing for Linear Retail

By Mihaela Coste

Alewife Brook Parkway Shopping Center, Cambridge, Mass.

Cambridge, Mass.—HFF announced that it has arranged a first mortgage financing of $34.5 million for the Alewife Brook Parkway Shopping Center in Cambridge. The 47,004-square-foot, class A asset is owned by Linear Retail.

The borrower, a leading acquirer, developer and operator of retail properties in New England, was represented by Managing Director Riaz Cassum, Director Brett Paulsrud and Senior Analyst Andrew Gray, placing the fixed-rate loan with Nationwide Life Insurance Co.

Alewife Brook Parkway Shopping Center is situated on a 3.49-acre site at 211 Alewife Brook Parkway, near the intersection of state routes 2, 3 and 16, and in close proximity to the Alewife MBTA station. The asset was built and substantially redeveloped in 2009 and is currently fully leased to multiple tenants, including TD Bank, Chipotle Mexican Grill, Mattress Firm, Sav-Mor Spirits, Genki Ya, Trader Joe’s and T-Mobile.

“HFF was able to work very closely with our client to secure a loan that met all their objectives,” said Paulsrud in a prepared statement. “It is always a pleasure to work with best-in-class organizations such as Linear Retail and Nationwide.”

Image courtesy of Linear Retail