One Kendall Square
1 Kendall Square, Cambridge, MA 02139
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
