One Kendall Square

Property Overview

This investment represents a $175 million first mortgage for the refinance of One Kendall Square, an approximately 665,000 square foot mixed-use facility located on a nine-acre rectangular campus in the heart of Kendall Square in Cambridge, Mass. The property consists of nine separate and distinct buildings (plus two storage facilities), a parking garage and a nine-screen movie theater.

One Kendall Square’s high quality construction, cuttingedge institutional quality lab space, efficient floor plates, strong floor loads and high ceilings yield vibrant and flexible workspace that is well suited for laboratory or office tenants. Additionally, the parking garage amenity significantly increases the marketability of the Property due to both its size and designation as a public parking facility.

Investment at a Glance

Location: Cambridge, MA

Property Type: Mixed-Use

Investment Type: First Mortgage

Acquisition Date: November 22, 2010

Total Loan Amount: $175,000,000

Appraised Value: $242,200,000

Initial Loan-to-Value: 72.3%

Loan Term: 60 Months

No. of Buildings: 13

Square Footage: 665,000 SF