Sunday, July 27, 2014

HFF secures $25 million financing for 100 Hancock Street in suburban Boston, MA


100 Hancock Street, Quincy, MA
BOSTON, MA – HFF announced it has secured $25 million in first mortgage financing for 100 Hancock Street, a 204,750-square-foot, Class A office building in Quincy, Massachusetts.

                Working on behalf of Synergy Investments, HFF placed the long-term, fixed-rate loan with Peoples United Bank. 

  Loan proceeds are being used to refinance an existing mortgage that HFF placed with Peoples United in 2011.

                100 Hancock Street is located along Route 3A approximately one mile from Interstate 93 and about five miles south of Boston’s Seaport District in Quincy.

Greg Labine
 Extensively renovated in 2008, the 10-story office building is certified LEED Silver and features a full-service cafeteria, fitness center, shared conference facility and three-level, 329-space parking garage. 

Tenants at the 95 percent leased facility include several State of Massachusetts agencies including the Executive Office of Health and Human Services, the Department of Transitional Assistance and the Massachusetts Developmental Disabilities Council.

                The HFF team representing the borrower was led by managing director Greg LaBine and real estate analyst Patrick McAneny.

                “Lenders were attracted to the accessibility of the asset from both public transportation and highways, the quality of the physical asset, the high credit caliber of the tenancy and the strength of the sponsorship,” said LaBine.  “Peoples United provided Synergy with the best combination of long-term interest rate risk mitigation and prepayment flexibility.”

                Synergy Investments is a Boston-based real estate investment and development firm focused on the acquisition, repositioning and operation of commercial office buildings. 

Its current portfolio encompasses approximately 3 million square feet across 30 properties in metropolitan Boston.

For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

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