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Cambridge Apartment Tower Refinances Debt

Nov 7, 2018 | Reprints | Print

Developer Greystar has refinanced the debt on its 392-unit Zinc apartment tower at 22 Water St. in Cambridge.

CBRE secured a 10-year fixed-rate Freddie Mac loan for $120.2 million to refinance the construction loan.

The LEED Silver certified high-rise is located next to the future location of the new Lechmere station on the MBTA’s Green Line. Greystar acquired the property in September 2017, part of its Monogram Residential Trust acquisition.

Zinc was developed by Monogram in 2016. Resident amenities include an outdoor lounge, 15,000-square-foot garden terrace, theater room and 24-hour concierge service.

B&T Daily