Downtown Boston office building Receives $25M FinancingBOSTON, MA – The Boston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured $25 million in financing for 101 Merrimac Street, (top right photo) a 10-story, 159,173-square-foot Class A office building in Boston’s Bulfinch Triangle neighborhood.
Working exclusively on behalf of H.N. Gorin, Inc., HFF senior managing director Bob Herron (top left photo) and director Greg LaBine (middle right photo) placed the loan with Unum Group. Loan proceeds will refinance an existing first mortgage on the building.
HFF will also service the loan.
Completed in 1990, 101 Merrimac Street features an on-site restaurant, courtyard and 55-space parking garage and is 95% leased to tenants including Partners Healthcare System, Inc.
The property is located in Boston’s Bulfinch Triangle neighborhood close to North Station, Massachusetts General Hospital, Faneuil Hall, the Financial District and Boston’s Waterfront.
“Unum was able to provide a 15-year, fixed-rate financing at a competitive rate, which fit both the building profile and HN Gorin’s strategy for the asset,” said LaBine.
H.N. Gorin, Inc. is a Boston-based real estate investment and development company involved in the acquisition, development, management and ownership of commercial, multifamily residential, industrial and retail real estate.Unum is a leading provider of employee benefits including disability, long-term care, life and voluntary insurance.
Contacts:
Robert M. Herron, Senior Managing Director, rherron@hfflp.com
Gregory F. Labine, HFF Director, (617) 338-0990, glabine@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500 - krmurphy@hfflp.com -
Industrial/flex properties on Long Island Obtain $3.25M Loan
FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged $3.25 million in financing for two industrial and flex properties totaling 52,500 square feet in Islip, Long Island, New York.
HFF senior managing director Jon Mikula (bottom left photo) worked exclusively on behalf of The Hampshire Companies to secure the five-year fixed-rate loan through Oritani Bank. Loan proceeds were used for a sale leaseback of the two properties to Siemens Energy & Automations, Inc., a subsidiary of Siemens AG
The properties are located at 155 Plant Avenue and 75 Oser Avenue within the Hauppauge Business Park close to the Long Island Expressway and the Northern State Parkway in Islip, Long Island. 155 Plant Avenue is a recently renovated 20,000-square-foot office building.
75 Oser Avenue has 24,375 square feet of warehouse and 8,125 square feet of office space. Both properties are fully leased to Siemens Energy & Automations, Inc.
The Hampshire Companies, a full-service, private real estate investment manager with equity in assets valued at over $2 billion, targets the development or purchase, and operation of investment-grade neighborhood supermarket-anchored centers, single-tenant retail facilities, warehouse/distribution facilities, office buildings, and self storage facilities located in the Mid-Atlantic and Northeast regions of the United States.
The company currently operates a diversified national portfolio of properties totaling more than 20 million square feet with $1 billion of equity under management.
Contacts:
Jon Mikula, HFF Senior Managing Director, (973) 549-2000, jmikula@hfflp.com
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