Wednesday, May 6, 2009

HFF secures $16.5M financing for office buildings in Boston’s Financial District

HARTFORD, CT – The Hartford and Boston offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that they have secured $16.5 million in financing for 24 Federal Street and 3 Post Office Square, (above centered photo) office buildings totaling 139,473 square feet in Boston’s Financial District.

Working exclusively on behalf of Cornerstone Real Estate Advisers LLC, HFF senior managing director Dana Brome (top right photo) placed the four-year fixed-rate loan with Ocean Bank, a division of People’s United Bank, to refinance an existing mortgage, which became due.

Located adjacent to Post Office Square, 24 Federal Street and 3 Post Office Square offer tenants access to public transportation at South Station, Downtown Crossing and Park Street Stations as well as Interstate 93, the Massachusetts Turnpike and the Ted Williams Tunnel.

24 Federal Street has 12 stories with 74,406 square feet and 3 Post Office Square has 65,067 square feet in 11 stories.

Both properties have ground floor retail space and are 93.5% occupied by tenants including BancWare, CVS, Dunkin Donuts, Century Bank and TD Ameritrade.

“The buildings are positioned in one of the most sought after areas in the Financial District – Post Office Square.
This location provides easy access to Downtown Crossing, Faneuil Hall, (top left photo) City Hall and Boston’s waterfront (bottom right photo) as well as several commuting options such as the MBTA red, green and orange lines at a variety of stops,” said Brome.

Cornerstone Real Estate Advisers LLC provides private real estate equity investment management services for its parent corporation, Massachusetts Mutual Life Insurance Company and tax-exempt and taxable institutions.

HFF (NYSE: HF) operates out of 17 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.

HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, loan sales and commercial loan servicing.

DANA E. BROME, HFF Senior Managing Director, (860) 275-6198,
KRISTEN M. MURPHY, HFF Associate Director, Marketing, (713) 852-3500

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