2007 Transactions

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Tremont Provides $3,000,000 Office Mezzanine Loan

The Boston office of Tremont Realty Capital arranged mezzanine financing for the acquisition of 10 Fawcett Street, a 130,304 square foot, first-class office building located in Cambridge, Massachusetts. 

Dennis Walsh, a Senior Director with Tremont, arranged the $3,000,000 mezzanine loan, which was funded through a Tremont sponsored fund, and capped a total of $20,000,000 in debt.  The 36-month, non-recourse loan provided for roughly 90% loan-to-value financing. The property was 87% occupied at the time of closing.  Major tenants include Cambridge Trust Company, which occupies 21% of the space. According to Walsh, “We were able to quickly match up the borrower’s financing needs to one of the many direct loan high leverage products we manage. By assisting in the front-end of the borrower’s purchase, we were also able to execute in a timeframe that met a stringent closing date.”

For additional information on this transaction, please contact:

Dennis Walsh
Senior Director
Email: dwalsh@tremontcapital.com
Phone: 617.867.0700 x782