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| 250 Summer Street, Seaport District, Boston, MA |
BOSTON, MA – HFF announced it has arranged a
$24.6 million refinancing for 250 Summer Street, a 104,709-square-foot office
building in Boston’s Seaport District.
HFF worked on behalf of the borrower, a partnership between
Synergy Investments and Independencia Asset Management to secure the long-term,
fixed-rate loan through Eastern Bank.
Loan proceeds refinanced an acquisition loan on the property from HSBC
Bank USA, which HFF arranged in 2012.
250 Summer Street is located across the Fort Point Channel
from Boston’s Financial District and South Station. Originally built in 1903, the property has eight stories of
office space that is 100 percent leased to tenants including Morrison Mahoney
LLP.
The HFF team representing the borrower was led by managing
director Greg LaBine.
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| Greg Labine |
“Synergy did a tremendous job in executing their business
plan for this asset,” said LaBine.
“Synergy completed significant upgrades to the building and tenant
spaces and leased up the remainder of the building.
" As such, it was now time to employ an asset/liability management
strategy that took advantage of the favorable long-term rate environment. Eastern was attracted to the strength of the
asset’s location, the durability of the cash flow and the track record of the
sponsorship.”
Synergy Investments is a Boston-based real estate investment
and development firm focused on the acquisition and operation of office, retail
and residential assets, and their associated debt.
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
