DivcoWest has secured a $433.8 million construction loan for the next phase of its Cambridge Crossing project in Cambridge, Mass.
The financing was originated by Square Mile Capital Management for the development of parcels EF and Q1.
Parcel EF will be a nine-story, 479,000-square-foot science and tech building with ground-level retail and below-grade parking. Parcel Q1 will be a two-story, 19,000-square-foot office and retail building.
Cambridge Crossing will feature 11 acres of open green space, 2.1 million square feet of science and tech space, 2.4 million square feet of residential space and 100,000 square feet of retail space.