HFF arranges $34.5m mortgage financing for Linear Retail site

Cambridge, MA Holliday Fenoglio Fowler, L.P. (HFF) has arranged $34.5 million in first mortgage financing for Alewife Brook Parkway Shopping Center, a 47,004 s/f, Trader Joe’s and CVS-anchored center.

Working on behalf of Linear Retail Properties, LLC, HFF placed the fixed-rate loan with Nationwide Life Insurance Company.

Alewife Brook Parkway Shopping Center - Cambridge, MA

Alewife Brook Parkway Shopping Center was built and substantially redeveloped in 2009, and is fully leased to the two anchor tenants, TD Bank, Chipotle Mexican Grill, Mattress Firm, Sav-Mor Spirits, Genki Ya and T-Mobile.  The class A urban retail center is situated on a 3.49-acre site located along Alewife Brook Pkwy., near the intersection of Rtes 2, 3 and 16, less than a quarter of a mile south of the Alewife MBTA station. 

The HFF debt placement team was led by senior managing director Riaz Cassum, director Brett Paulsrud and senior real estate analyst Andrew Gray.

“HFF was able to work very closely with our client to secure a loan that met all their objectives,” said Paulsrud. “It is always a pleasure to work with best-in-class organizations such as Linear Retail and Nationwide.” 

Based in Burlington, Massachusetts, Linear Retail Properties is a leading acquirer, owner, developer and operator of retail properties in New England.  Linear Retail Properties owns 82 retail properties including convenience-oriented strip shopping centers; specialty storefront retail in select downtown neighborhoods; smaller, well-located centers in dominant retail destination corridors; net leased, single-tenant retail properties; and urban retail condos. 

HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc.  HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing.