| Rendering of planned Seaport Square, Seaport District, Boston, MA |
BOSTON, MA – HFF announced today that it has arranged a $112 million refinancing for Seaport Square, a master-planned development area in Boston’s Seaport District. The Seaport Square master plan encompasses 20 buildings of varying sizes totaling 6.3 million square feet of commercial development.
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| John Fowler |
HFF worked on behalf of the borrower, a venture between Boston Global Investors and Morgan Stanley Real Estate Investing, to secure a six-year loan through Starwood Property Trust.
The loan was structured to allow the borrower flexibility in releasing parcels while maintaining leverage such that the loan will likely carry the sponsor through full execution of their business plan.
Collateral for the loan consists of 15 development sites, which have historically been used as parking lots, and are fully approved by the Boston Redevelopment Authority (BRA) for 5.3 million square feet of new retail, residential, hotel and office development within 15 buildings.
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| Anthony Cutone |
Located directly across the Fort Point Channel from Boston’s Financial District, the development sites are situated in the heart of Boston’s Seaport District.
The HFF team representing the borrower was led by executive managing director John Fowler, managing director Anthony Cutone and senior real estate analyst Brett Paulsrud.
Boston Global Investors (BGI) is a leading real estate development and consulting firm headquartered in Boston, Massachusetts. In the last 10 years, BGI has developed projects in excess of $6 billion.
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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