Medford Luxury Apartment Building Acquired for $23.125 Million
Bulfinch has acquired Sphere, a luxury apartment building located at 640 Boston Ave in Medford, MA for $23.125 million.
The 47,507 square foot building features 42 residences with ground-floor commercial space and is located on the Somerville/Medford town line at the foot of the future Ball Square MBTA Green Line Station. Delivered in July 2017 by developer Dark Horse Capital Partners, Sphere features 22 one-bedroom residences and 20 two-bedroom residences with nine distinct floor plans.
$15 million financing secured for newly-opened Sphere luxury apartments in Medford
Dark Horse Capital Partners has secured $15 million in permanent financing for its new-construction Sphere mixed-use building in Medford, which opened this past July and is located steps from the future Ball Square Station on the MBTA Green Line Extension. Holliday Fenoglio Fowler, L.P. (HFF) worked on behalf of Dark Horse, securing a $15 million seven-year fixed-rate loan through HarborOne Bank. Sphere features 42 luxury apartment residences, including 22 one-bedrooms and 20 two-bedrooms, with ground-floor commercial space. The building is located in Ball Square on the Somerville/Medford town line, minutes from Boston and Cambridge. “Sphere is an exceptional product in a highly desirable, transit-oriented location,” said HFF Director Martha Nay in a prepared statement. “Ball Square is in the midst of a transformation, and Sphere’s success is a testament to what’s to come."
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