Avison Young brokers financing for Cambridge residential building, VÉLO22 Jul 2020
BOSTON, MA – Avison Young announced today that it has arranged a $19.9 million refinancing for the construction of VÉLO, a class A condominium building situated along the Alewife Linear Park in Cambridge, MA. VÉLO will include ground floor retail and 34 units of luxury housing and on-site parking that will deliver in 2021.
Avison Young worked on behalf of the borrower, a joint venture between Senné and SGL Development, to secure the construction loan through East Boston Savings Bank.
“VÉLO is an exceptionally well-located and well-designed residence that will satisfy the demand for permanent residences in Cambridge,” said Buckley. “We expect VÉLO to be a welcome addition to the Davis Square community.”
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its Principals. Founded in 1978, with legacies dating back more than 200 years, the company comprises approximately 5,000 real estate professionals in 108 offices in 14 countries. The firm’s experts provide value-added, client-centric investment sales, leasing, advisory, management and financing services to clients across the office, retail, industrial, multi-family and hospitality sectors.
Avison Young is a 2019 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for eight consecutive years.
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