NorthMarq Capital arranges $1.5m mortgage for CLI Cedar

Joseph Hegenbart, managing director of NorthMarq's Boston regional office, arranged mortgage financing of $1.5 million for Cedar Hill Place, a 107,520 s/f office building located at 225 Cedar Hill St. The loan was arranged for the borrower, CIL Cedar LLC, by NorthMarq through its correspondent relationship with Sun Life Assurance Company of Canada. Constructed in 2001, Cedar Hill Place is a class A office building which consists of three stories of attractively finished common areas, a new full-service café, gymnasium and tenant suites. Currently, 6,300 s/f of leasable space is being marketed by New Dover Associates, Inc. of Framingham. The property is located one-half mile from I-495 just north of the Mass. Tpke. Corporate neighbors include 3Com, Fidelity Investments and Hewlett Packard.