525 LINC Secures $58M Loan, Refinancing the Popular Coliving Apartment Building in Allston
Newmark arranged the financing with funds from Aareal Bank

 BOSTON, MA – November 19, 2024 –FAM Asset Management, Arx Urban, and Boylston Properties, today announced that they closed on a $58M loan from Aareal Bank to refinance 525 LINC, a coliving development in the Allston neighborhood of Boston that opened its doors in January 2024. 525 LINC includes 80 coliving suites and studios, equaling 279 rentable bedrooms, in a mix of studios, 3-and 4-bedroom suites. Newmark brokered the deal as the development soared past stabilization, currently 97% leased and occupied, as demand for new housing solutions increases because of Greater Boston’s housing crisis.

525 LINC is the second coliving concept to open in Boston, welcoming residents into fully furnished units, inclusive of all utilities, high-speed internet, and household basics like TVs, pots and pans, and more. The residential community enjoys luxury amenities such as a roof deck with skyline views, a ground floor outdoor patio, fitness center, WFH lounge, community kitchen, electric-vehicle car shares, and a bike room. Residents have been quick to adapt to this new model for housing affordability, renting a studio if they want the entire unit to themselves, or renting by the bedroom in a 3- or 4-bedroom unit, sharing the unit’s common spaces with other renters.

525 LINC sits on a .75-acre former parking lot site, owned by FAM Asset Management, and originally envisioned as a transformational opportunity to provide more housing to the Allston community. Designed by HDS Architecture, developed by Arx Urban and Boylston Properties, and managed by National Development, 525 LINC is centrally located in the heart of Lower Allston.

“This financing highlights the strength and differentiation of the product put forth at 525 LINC,” said Brian Lash, Principal of FAM Asset Management. “The demand for housing in the area is at an all-time high but this financing underscores the importance of tackling new, affordable housing types that speak to the lifestyles of young professionals in our region. Residents want inclusive living, convenience, and a frictionless approach to renting, and coliving concepts are meeting the moment. We are thrilled to see the early success at this development in such a special part of Allston.”

Minutes from Boston University, Harvard School of Engineering and Applied Sciences, and Harvard Business School, the resident make-up is a mix of recent undergraduates, young professionals, graduate students, and traveling nurses and other nearby professionals in search of easy access to bars, restaurants, and music venues, and quick proximity to transportation. Within walking distance of Packards Corner on the Green Line, as well as Boston Landing’s Commuter Rail Stop, residents are also just a couple of blocks from the MassPike and Storrow Drive, making transit incredibly convenient.

“We are very proud of year one at 525 LINC, developed in partnership with our friends at Boylston Properties, and this refinancing is a tip of the cap to the early success and realization of the coliving thesis” said Benjie Moll, founder of Arx Urban. “We aimed to create equitable housing that would help retain our city’s recent graduates and young professionals, because a housing crisis is a workforce crisis. The financing climate is difficult right now, but it’s clear that demand is strong, and we hope the success at 525 LINC spurs even more housing innovation in our great city.”

National Development manages 525 LINC, the second coliving concept in their portfolio, which includes 7INK, located at Ink Block in Boston’s South End. Learn more at https://525linc.com.

About 525 LINC
525 LINC is Boston’s second co-living building, bringing a global trend to Allston that provides residents with an all-inclusive approach to apartment living where units are fully furnished and utilities, internet, bi-weekly housekeeping, kitchen basics and roommate matching are all included in base rent. Co-living is an emerging way of living that enriches the residential experience through a rent-by-the-bedroom model with convenient hospitality-like services, abundant amenity and WFH spaces and a variety of unit configurations. Fully furnished apartments include private bedrooms (some with private bathrooms) and shared living/kitchen spaces to work, eat, socialize and hang out. A roommate matching service connects residents to other like-minded people. Learn more at https://525linc.com.

About FAM Asset Management
FAM Asset Management stewards a strategic mix of commercial, residential and resort real estate holdings positioned across North America, investing heavily in the development, renovation, and stabilization of properties to ensure sustainable investment returns, future growth, and unique resilience through market cycles. Included in FAM Asset Management’s owned portfolio is over 500 rental apartments, 500,000 square feet of office and commercial space and Owl’s Nest in the White Mountains of NH, the largest resort under development in New England situated on over 750 acres with two 18 hole championship golf courses, a 25 court racket complex, 10 acre Lake Harold, five restaurants and grocery, the Wellnest Spa and Rejuvenation Center and over 450 remaining home lots. Learn more at https://www.famassets.com/.

About Arx Urban
Arx Urban is an innovative real estate firm focused on creating and preserving housing in the Greater Boston area. Benjie Moll and Danny Moll founded the firm in 2014 with the mission to create a socially-minded, technology-enabled and forward-thinking approach to real estate. To date, Arx Urban has developed or acquired 20 multifamily and mixed-use projects with nearly $450 million in project value. For more information about Arx Urban, please visit www.arxurban.com.

About Boylston Properties
Boylston Properties is a Boston-based real estate developer of mixed-use places including retail, residential, hotel, corporate, and lab buildings, such as Arsenal Yards in Watertown. With four decades of experience and a contemporary vision, their distinctive projects have become part of Greater Boston’s new urban landscape. For more information, please visit www.boylstonproperties.com.