(Read more on the debt and equity markets andthe multifamilymarket .)
CAMBRIDGE, MA-EagleBridge Capital has secured $5.17 million inmortgage financing to convert a well-located apartment buildinginto condominiums. The 24-unit building at 2456-2460 MassachusettsAve. is owned by First Cambridge 2460 Acquisition LLC, an entitycontrolled by local developer Roger Lehrberg.
According to EagleBridge principal Ted Sidel, the mortgagebanking firm opted to finance the plan for a variety of reasons,calling it "a well-conceived, moderately priced project in anexcellent location" close to Davis, Harvard and Porter squares andalong several public transit lines. The owners paid $6.5 millionfor the asset.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
