Boylston Properties wins financing for LINX in Watertown, MA

Boylston Properties has secured a $60.67 million construction loan for the development of LINX, a speculative office development in Watertown, Massachusetts. The future 185,595 square-foot Class A office building has been under redevelopment since 2015 having served previously as an industrial building. Located at 490 Arsenal Way, the 10-acre site is four miles west of Boston, close to Harvard Business School and Cambridge’s Kendall Square. Holliday Fenoglio Fowler worked on behalf of the borrower to secure the three-year, floating-rate loan through Cornerstone Real Estate Advisers, acting on behalf of an institutional client.

“The Arsenal Street corridor in Watertown is a viable alternative for the oversaturated Kendall Square office market, the extremely congested West Cambridge/Alewife market and the suburban markets of central 128,” said senior managing director Frederic Wittmann, of H.F.F. “With proximity, pricing and a new purpose-built, highly efficient building, LINX will be extremely attractive to new and existing tenants.”