Wednesday, August 27, 2014

$240 million in financing secured by HFF for One Channel Center in Boston’s Seaport District


Anthony Cutone

BOSTON, MA – HFF announced it has secured permanent financing totaling $240 million for One Channel Center and the Channel Center Garage, a 501,650-square-foot, newly-built office building and 967-space parking garage in Boston’s Seaport District.

               HFF represented the borrower, a venture between affiliates of Ares Management LLC and CV Properties LLC.  The financing was structured as a $190 million first mortgage, and a $50 million mezzanine loan.  HFF also arranged the $170 million construction loan for the property in 2012.

               One Channel Center, designed by the architectural firm of Add Inc. in collaboration with Spalding Tougias Architects, was built with “creative space” in mind, incorporating “cutting edge design” and space planning to optimize collaboration, efficiency and productivity.  Completed in June 2014, the 11-story building is leased in its entirety to State Street Corporation. 


Brett Paulsrud
One Channel Center and the Channel Center Garage are located within the larger Channel Center master-plan area, a 2.1 million-square-foot mixed-use neighborhood combining first class office, luxury residential, and street front retail and restaurants anchored by a series of landscaped parks featuring the 1.7-acre Channel Center Park. 

               The HFF debt placement team representing the borrower was led by managing director Anthony Cutone and senior real estate analyst Brett Paulsrud. 


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

No comments:

Post a Comment