HFF Arranges $205M in Financing for Mixed-Use Development in Burlington, Massachusetts
BURLINGTON, MASS. — HFF has arranged $205 million in financing for The District Burlington, a more than 1 million-square-foot mixed-use development in Burlington. Fred Wittman, Greg LaBine and Robyn King of HFF secured the seven-year, fixed-rate permanent loan through a major institutional life insurance company for the borrower, affiliates of Charles River Realty Investors, National Development and AEW Capital Management. Recently repositioned and rebranded, the property includes a 30,000-square-foot retail cluster anchored by Island Creek Oyster Bar, Tuscan Kitchen and Market and TD Bank; a 350-space parking garage; a Residence Inn by Marriott; an 8,000-square-foot fitness center and OMMMSpace, a yoga and meditation studio. The District Burlington is 85 percent leased to a roster of more than 40 regional, national and global tenants, including BAE Systems, Black Duck Software, Charles River Development (no affiliation with Charles River Realty Investors) and Decision Resources.