HFF Secures $205 Million Financing for 1 Million-Square-Foot Mixed-Use Development Near Boston

by Camren Skelton

Burlington, Mass. — HFF has secured $205 million in financing for The District Burlington, a 1 million-square-foot mixed-use development in Burlington, 15 miles northwest of Boston.

Fred Wittman, Greg LaBine and Robyn King of HFF secured the seven-year, fixed-rate permanent loan through an institutional life insurance company on behalf of the borrowers, affiliates of Charles River Realty Investors, National Development and AEW Capital Management. Recently repositioned and rebranded, the property includes a 30,000-square-foot retail cluster anchored by Island Creek Oyster Bar, Tuscan Kitchen and Market and TD Bank; a 350-space parking garage; a Residence Inn by Marriott; an 8,000-square-foot fitness center and OMMMSpace, a yoga and meditation studio. The office portion of the property is 85 percent leased to tenants including BAE Systems, Black Duck Software, Charles River Development (no affiliation with Charles River Realty Investors) and Decision Resources.

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