Key Takeaways
- • GenX Capital Partners and Capital Stack CRE Finance co-originated and closed a $37.75 million construction loan for the 907 Main boutique hotel in Cambridge, Massachusetts, funded by a New York-based real estate hedge fund.
- • The 907 Main Hotel project carries a total valuation of $45 million and will deliver a 67-room upscale boutique property with street-level dining, bar, private dining, seasonal patio, and rooftop bar overlooking downtown Boston.
- • The property is strategically located in Cambridge's Central Square on the edge of the MIT campus, surrounded by educational institutions, biotech firms, and pharmaceutical and healthcare companies, positioning it to capture demand from institutional and corporate clientele.
- • Developer Patrick Barrett III and partners T.O. and Timothy Johnson retained Hay Creek Hotels, an award-winning New Hampshire-based hotel operator, to manage design, development, pre-opening, and long-term operations of the 42,000 square-foot asset.
- • The transaction demonstrates the role of alternative capital sources in hospitality real estate financing, with the NY hedge fund providing speed and favorable leverage compared to traditional bank terms.
Summary
GenX Capital Partners, a Miami-based real estate investment banking firm and direct lender, collaborated with Capital Stack CRE Finance to originate, underwrite, and close a $37.75 million construction loan for the 907 Main boutique hotel in Cambridge, Massachusetts. The financing was funded by a New York-based real estate hedge fund, which provided competitive leverage and terms in line with regional banking alternatives while delivering transaction speed. Capital Stack CRE Finance, led by Boston-based real estate veteran Brian Sheehan—who has overseen more than $1 billion in closings—served as the financing intermediary.
The 907 Main Hotel is a $45 million upscale boutique property development anchored in Cambridge's Central Square neighborhood, positioned at the edge of the MIT campus and surrounded by educational institutions, biotech, pharmaceutical, and healthcare enterprises. The 42,000 square-foot hotel will feature 67 guest rooms and suites, a street-level restaurant and bar, a private dining room, a seasonal outdoor patio, and a rooftop bar offering views of downtown Boston.
The development team comprises Patrick Barrett III, a prominent Cambridge-based developer and attorney, alongside partners T.O. and Timothy Johnson. The family brings significant experience in commercial, retail, and residential property development throughout the Boston and Cambridge markets. To ensure high-quality execution and operations, the developers engaged Hay Creek Hotels, an award-winning hotel development and management company headquartered in Exeter, New Hampshire, to oversee design, pre-opening logistics, and long-term asset management. This transaction reflects the growing role of alternative capital—particularly real estate hedge funds—in financing boutique hospitality projects where speed of capital deployment and flexible terms provide competitive advantages over traditional lenders.
The 907 Main Hotel is a $45 million upscale boutique property development anchored in Cambridge's Central Square neighborhood, positioned at the edge of the MIT campus and surrounded by educational institutions, biotech, pharmaceutical, and healthcare enterprises. The 42,000 square-foot hotel will feature 67 guest rooms and suites, a street-level restaurant and bar, a private dining room, a seasonal outdoor patio, and a rooftop bar offering views of downtown Boston.
The development team comprises Patrick Barrett III, a prominent Cambridge-based developer and attorney, alongside partners T.O. and Timothy Johnson. The family brings significant experience in commercial, retail, and residential property development throughout the Boston and Cambridge markets. To ensure high-quality execution and operations, the developers engaged Hay Creek Hotels, an award-winning hotel development and management company headquartered in Exeter, New Hampshire, to oversee design, pre-opening logistics, and long-term asset management. This transaction reflects the growing role of alternative capital—particularly real estate hedge funds—in financing boutique hospitality projects where speed of capital deployment and flexible terms provide competitive advantages over traditional lenders.
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