Parcel EF at the Cambridge Crossing development in East Cambridge, MA. Parcel EF at the Cambridge Crossingdevelopment in East Cambridge, MA.

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EAST CAMBRIDGE, MA—San Francisco-based Divco West has secured a$433.8-million construction loan for the next phase of its Cambridge Crossing project here.

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The financing was originated by Square Mile Capital Management, LLC of NewYork City for the development of parcels EF and Q1, which willcontain lab, office and retail space.

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Once complete, parcel EF will be a nine-story,479,000-square-foot science and tech building with ground-levelretail and below-grade parking.

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Parcel Q1 will be a two-story, 19,000-square-foot office andretail building.

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Square Mile principal Sean Reimer says, "The Cambridge Crossingdevelopment has already seen tremendous leasing momentum to dateand is further positioned for success due to its strategic marketlocation. Given those facts, this transaction represented aterrific opportunity for us, and we are pleased to establish alending relationship with DivcoWest."

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At full build-out Cambridge Crossing will feature 11 acres ofopen green space, 2.1 million square feet of science and techspace, 2.4 million square feet of residential space and 100,000square feet of retail space.

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The property is located at the intersection of Cambridge,Somerville, and Boston next to Kendall Square and near Harvard andMIT.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.