Thorofare Capital Provides $50.5 Million Bridge Loan For Cambridgeport Labs In Cambridge MA
99 Erie Street & 167 Sidney Street
$50,500,000
$448/SF
Building Size
112,702 SF
Asset Type
Life Sciences
Closing
Sep 11, 2025
AI
The asset involved in this transaction is a life sciences property located at 99 Erie Street & 167 Sidney Street in Cambridge, MA, totaling 56,351 square feet. A bridge loan in the amount of $50,500,000 was provided to refinance the property known as Cambridgeport Labs.
Summary of transaction details:
- Property Type: Life Sciences
- Transaction Amount: $50,500,000
- Lender: Kevin H. Miller - Thorofare Capital
- Landlord: Mike Freno - Barings & Kevin Sheehan - Greatland Realty Partners
- Loan Type: Bridge
- Date of Transaction: 09/11/2025
This transaction features key individuals including Kevin H. Miller representing Thorofare Capital as the lender, along with landlords Mike Freno from Barings and Kevin Sheehan from Greatland Realty Partners, who are responsible for the property management and operational aspects of the asset.
Players
Cambridge Life Sciences Market Snapshot
Boundary boundary · Life Sciences · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93