Capital Stack, GenX Arrange $37.7M Construction Loan for Hotel Project Near Boston
CAMBRIDGE, MASS. — Capital Stack Commercial Real Estate Finance and Miami-based GenX Capital Partners have arranged $37.7 million in construction financing for 907 Main Hotel, a 67-room property in Cambridge. Local developer Patrick Barrett III is leading the development of the upscale, boutique hotel, which will span 42,000 square feet and offer a street-level restaurant and a rooftop bar. The building will also house Toscanini’s Ice Cream, which has operated in the neighborhood since 1981. A New York-based hedge fund provided the financing. The hotel is slated to open in early 2020.