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Following a long-term entire building lease by Harvard University’s technology services department, Bulfinch Cos. has obtained $30 million refinancing for 784 Memorial Drive in Cambridge.
The 61,000-square-foot office complex was built in 1937, renovated and expanded in 1999 and most recently renovated in 2014.
Fantini & Gorga’s Wayne Clough and Despina Hixon arranged the financing with Lincoln National Life Insurance Co.
“The lender understood the desirable location of the asset, strength of the tenant and excellent reputation of the sponsor.” Clough said in a statement. “As a result, our correspondent lender was able to provide a loan committee vetted rate lock application in two business days for a very attractive long-term fixed rate loan.”
