ALLSTATE REAL ESTATE PROVIDES $52 MILLION LOAN

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CAMBRIDGE, MASS. — Allstate Real Estate Investment Group has provided a $52 million loan for a portion of University Park at MIT, a mixed-use development in Cambridge. Situated on 27 acres, the project will feature 1.5 million square feet of scientific research facilities as well as traditional commercial and residential real estate. The borrower’s portion, a joint venture between Forest City Enterprises and the Massachusetts Institute of Technology, includes a 101,222-square-foot office building, 68,000 square feet of retail and a 950-space parking garage. Chris Blechschmidt of Capmark Finance arranged the financing.

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