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| Rendering of planned Twenty Two Liberty condominiums at Fan Pier, Boston, MA |
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| John Fowler |
BOSTON, MA – HFF announced today that it has arranged
construction financing for Twenty Two Liberty, a 14-story, luxury
residential tower at Fan Pier, featuring sweeping views of Boston Harbor
and the city skyline from Boston’s Innovation District.
HFF
worked on behalf of the borrower, a venture between The Fallon Company and
Massachusetts Mutual Life Insurance Company (MassMutual), as advised by
Cornerstone Real Estate Advisers, to secure the construction loan through Wells
Fargo Bank.
The Twenty Two Liberty residences will be situated on the
most seaward parcel of the Fan Pier mixed-use development, offering
270-degree vistas of Boston’s cityscape on one side and the Boston Harbor on
the other.
Due for completion in late 2015, the property will also
include 15,025 square feet of ground-floor retail and a 282-space, below-grade
parking structure.
Designed by world-renowned CBT Architects, Twenty Two
Liberty will feature condominiums with several configurations, from studio
pieds-a-terre to three-plus bedroom homes.
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| Anthony Cutone |
Residents of Twenty Two Liberty will have access to 24-hour
concierge support, private shuttle service around the city, and will be within
steps of Fan Pier’s fine dining and retail establishments.
The HFF team representing the borrower was led by executive
managing director John Fowler, managing director Anthony Cutone
and real estate analyst Toby Banta.
The Wells Fargo team was led by Shelly Gouin.
Founded in 1993, The Fallon Company is a Boston-based
commercial real estate development firm.
In 2005, it acquired one of the most sought after waterfront
sites in the United States – Fan Pier, a 21-acre property spanning nine city
blocks directly overlooking Boston’s working harbor.
When fully complete,
Fan Pier will consist of more than three million square feet of residential,
commercial, hotel, retail and civic/cultural space with unobstructed views of
the waterfront and Boston skyline, as well as direct access to all means of
transportation – including South Station, a water taxi to Boston’s Logan
Airport and the Financial District, Hubway bikes onsite and easy access to
several interstate highways.
Additional projects developed by The Fallon Company include
The Westin Boston Waterfront Hotel, Park Lane Seaport, ONE Marina Park Drive,
Fifty Northern Avenue and Eleven Fan Pier Boulevard. www.falloncompany.com.
Cornerstone Real Estate Advisers LLC (“Cornerstone”), with
subsidiary and affiliate offices in the U.S., UK, Europe and Asia, is one of
the largest global real estate investment managers.
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| Boston Harbor |
It provides core and value-added investment and advisory
services, including a comprehensive suite of private and public real estate
debt, equity and securities expertise and services, to institutional and other
qualified investors around the globe.
Cornerstone is a member of the
MassMutual Financial Group.
More information is at www.cornerstoneadvisers.com.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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