PGIM Provides $58.5M Loan to Refinance Beacon Capital's Cambridge Property

The floating-rate loan will refinance One Brattle Square, a mixed-use office and retail asset in Harvard Square.

Apr. 17, 2026 at 8:08pm

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A dramatic close-up of the intricate gears, pulleys, and mechanisms of a large commercial bank vault, rendered in high contrast black and white, conveying a sense of financial security and institutional power.PGIM's refinancing of the One Brattle Square mixed-use asset in Cambridge underscores the firm's focus on selective lending in supply-constrained urban markets.Cambridge Today

PGIM's real estate business has originated a $58.5 million floating-rate loan to refinance One Brattle Square, a mixed-use office and retail asset in Cambridge, MA. The financing was made to an affiliate of Beacon Capital Partners and is structured as a core loan.

Why it matters

The transaction highlights PGIM's selective lending approach in urban environments with limited available supply, focusing on high-quality, well-located assets in supply-constrained markets like Harvard Square, which is known as one of the nation's more dynamic academic and commercial locations.

The details

One Brattle Square is a six-story building totaling 94,800 square feet that combines office and ground-floor retail space. The property is currently 99% leased, underscoring strong tenant demand. PGIM cited the building's connectivity and surrounding amenities, including its proximity to the Harvard MBTA station, as key attributes.

  • The $58.5 million loan was originated in April 2026.

The players

PGIM

PGIM's real estate business, the real estate investment and financing arm of PGIM, Prudential Financial's global investment management business.

Beacon Capital Partners

A real estate investment firm that owns and operates One Brattle Square.

One Brattle Square

A six-story, 94,800-square-foot mixed-use office and retail building located in Cambridge, Massachusetts' Harvard Square neighborhood.

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What they’re saying

“PGIM is pleased to support an affiliate of Beacon Capital Partners through this refinancing of One Brattle Square.”

— Michelle Liu, PGIM Executive Director

The takeaway

This transaction demonstrates PGIM's strategic focus on selective lending in supply-constrained urban markets, targeting high-quality, well-located assets that benefit from strong tenant demand and connectivity, as exemplified by the One Brattle Square property in Cambridge's thriving Harvard Square neighborhood.