JLL Capital Markets arranges $45.75M financing for 7 Hartwell Avenue in Lexington

• JLL Capital Markets arranged $45.75 million in construction financing for 7 Hartwell Avenue, a 130-unit ground-up luxury multifamily development in Lexington, Massachusetts
• Dinosaur Capital Partners secured a fully-funded construction loan through Affinius
• The shovel-ready project represents one of Lexington's first Class A multifamily developments in over two decades and is strategically positioned in one of Greater Boston's most affluent suburbs

BOSTON, Sep. 16, 2026 –  JLL Capital Markets announced today that it has arranged $45.75 million in construction financing for 7 Hartwell Avenue, a 130-unit ground-up luxury multifamily development located in Lexington, Massachusetts.

JLL worked on behalf of the borrower, Dinosaur Capital Partners, to secure a fully-funded construction loan through Affinius.

Due for completion in June 2028, 7 Hartwell Avenue will consist of a five-story, Class A residential community featuring studios, one-, two- and three-bedroom apartments, including 20 affordable units. The development will include 132 parking spaces (90 underground and 42 surface), a resident courtyard with grilling stations, a 400-square-foot café with outdoor seating, a fitness center and comprehensive lifestyle amenities. The property is designed with sustainability as a core focus, including Passive House certification, proposed rooftop solar panels, advanced stormwater management systems and an all-electric design.

Located at the intersection of Hartwell Ave. and Westview St., 7 Hartwell Avenue represents one of the first high-end multifamily developments in Lexington in over 20 years. The property is strategically positioned in one of Greater Boston's most affluent communities, with median household incomes exceeding $175,000 within a one-mile radius. The site offers exceptional transportation access, with Route 2 and Interstate 95/Route 128 just minutes away, and the Alewife MBTA Red Line station approximately three miles from the property, providing direct access to Cambridge and Downtown Boston.

The project benefits from its location within the thriving Route 128/Route 2 life sciences corridor, home to major employers including Novo Nordisk, Takeda, MIT Lincoln Laboratory and Boston Children's Hospital's research facility, which stands directly across from the development site. The adjacent Route 128 Office Corridor in Waltham comprises approximately 16.9 million square feet of office space and hosts global headquarters for Thermo Fisher Scientific and Repligen Corporation, along with significant regional offices for Fresenius Medical Care, AstraZeneca and National Grid.

The JLL Capital Markets Debt Advisory team was led by Managing Director Anthony Cutone and Director Madeline Joyce, along with Associates Michael Schwarze and Joe Marinaro.

"This financing represents a significant milestone for high-quality multifamily development in Lexington," Cutone said. "7 Hartwell Avenue addresses a critical housing shortage in one of Greater Boston's most desirable communities, where median home sale prices have reached $2.1 million and demand for luxury rental housing far exceeds supply. Affinius recognized the strength of this opportunity, a shovel-ready project in an affluent, underserved market with exceptional transportation access and proximity to the thriving Route 128 life sciences and technology corridor. The higher-leverage structure reflects strong lender confidence in both the sponsorship team and the fundamentals of the Lexington market."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 112,000 as of June 30, 2026. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com. 

Dinosaur Capital Partners is a Boston-based real estate investment, development, and advisory firm founded in 2010. Led by industry veterans Mark Dufton and Scott Oran, the firm specializes in mixed-income multifamily housing across Boston communities, focusing on sustainable development and strategic asset selection to achieve optimal returns. With 15+ years of successful projects, Dinosaur offers comprehensive advisory services including development analysis, asset strategy, and portfolio management.