BOSTON, MA – HFF announced today that it has arranged $230 million in acquisition financing for Landmark Center (top left photo), a 950,000-square-foot, Class A mixed-use complex in Boston, Massachusetts. HFF worked to secure a fixed-rate loan through New York Life Insurance Company and New York State Teachers Retirement System on behalf of institutional investors advised by J.P. Morgan Asset Management and Samuels & Associates.
Landmark Center is a mixed-use complex located at the confluence of the Longwood Medical Area and Fenway neighborhood of Boston.
Currently, the property is 98% leased, with a blend of credit retail and office tenants. Major office tenants include Blue Cross Blue Shield of Massachusetts, Harvard School of Public Health, and Harvard Medical School.
The retail units are occupied by Bed Bath & Beyond, Best Buy, REI, Staples, and a 13-screen movie theatre. In addition to the current stabilized value, the property has the potential for an additional development of 337,000 square feet over the parking garage.
The building is located adjacent to Fenway Triangle Trilogy, a mixed-use residential and retail project developed by a joint venture with institutional investors advised by J.P. Morgan Asset Management and Samuels & Associates.
The Fenway neighborhood is being re-developed into a 24/7 mixed-use community offering a wide range of services, stores and restaurants to its residents.
The HFF team representing the borrowers was led by senior managing directors Bob Herron (top right photo) and Whitney Wilcox and director Greg LaBine (bottom left photo).
Contacts:
Robert M. Herron, HFF Senior Managing Director, (617) 338-0990
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,
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