WALTHAM, MA— Holliday Fenoglio Fowler, L.P. reports it has arranged more than $74 million in financing for a laboratory facility here as well as nearly $42 million for a multifamily property in Norton, MA.

HFF states that it arranged $74.24 million in first mortgage financing for 830 Winter St., a 182,104-square-foot, Class A lab/biotech building in Waltham. HFF worked on behalf of the borrower, a joint venture between King Street Properties and an affiliate of Carlyle Realty Partners VII, LP, in arranging the floating-rate loan with Wells Fargo.

830 Winter St. located off Route 95/Route 128 was built in 2001 as the flagship headquarters for Praecis Pharmaceuticals. The property is currently fully leased to ImmunoGen, GlaxoSmithKline and Histogenics Corp. The HFF debt placement team representing the borrower was led by managing director Greg LaBine.

“This is one of the premier laboratory facilities in the Boston suburbs,” says HFF's LaBine. “As is the case with many acquisitions in the current market environment, the financing had to be obtained quickly to hit the tight closing time frame. HFF, along with a tremendous effort by the Wells Fargo team, was able to close the deal within 54 days of our initial engagement.”

HFF also reports that it has arranged construction and mezzanine financing for a Class A multi-housing development in Norton on behalf of a joint venture between Campanelli and Thorndike Development.

HFF secured a $25-million construction loan with First Niagara Bank and a $16.8-million mezzanine loan through Cornerstone Real Estate Advisers, on behalf of an institutional client, for 274 East Main St., a 188-unit, Class A multi-housing community in Norton. Due for completion in 2016, 274 East Main St. is being designed to mimic the feel of a Back Bay neighborhood with sidewalks, tree lined-streets and public spaces, HFF states. Units will be designed with garages on the first floor accessed through a back alley. Residents will have access to a community clubhouse, pool, fitness center, outdoor patio, game room and playground.

This is the second construction and mezzanine transaction HFF has arranged for the borrower through First Niagara Bank and Cornerstone. In late 2014, HFF secured financing totaling $60 million for One Upland, a 262-unit luxury apartment community slated to open in October 2015 in Norwood, MA. The HFF debt placement team representing the borrower in both transactions was led by managing director LaBine and real estate analyst Patrick McAneny.

“In these two transactions, HFF was able to raise 85% and 90% combined non-recourse construction financing for our client by combining first mortgage and mezzanine sources for the capitalization,” says LaBine. “Given this structure, the borrower was able to keep 100% of the upside of the deal, while having the comfort that, once stabilized, there would be a way to pay off all of the construction debt with a permanent first mortgage. First Niagara and Cornerstone worked well together in navigating a complicated structure.”