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May 30, 2014

Moody & Main project in Waltham closes on $98m financing package

The Boston Globe
By Chris Reidy
May 30, 2014

Northland Investment Corp. said that it has closed on a $98 million construction financing package for Moody & Main On The Common, a mixed-use project in downtown Waltham.

When completed, something expected to happen in the summer of 2016, Moody & Main On The Common will include 269 apartments, 27,595 square feet of retail space, a 300-car parking garage, and 92 surface parking spaces; the project is located one block from the Waltham MBTA commuter rail station, said Northland, a Newton-based real estate investment firm.

“Moody & Main will create a new and vibrant neighborhood in the center of downtown with first class amenities and high end finishes throughout,” Northland president and chief executive Steven P. Rosenthal said in a statement. “Moody & Main is a true transit-oriented development that will offer residents a 25-minute public transit commute to downtown Boston from their front door, while providing convenient walking access to restaurants, retail, and grocery stores.”

PCCP LLC provided the loan for this project, and Colliers International acted as the mortgage broker. ADD Inc. is the architect, and the general contractor is Erland Construction. CBRE is the exclusive leasing agent for the available retail space.