 |
| One Congress Street and Government Center Garage, Boston, MA |
 |
| John Fowler |
BOSTON, MA –– Holliday
Fenoglio Fowler, L.P. (HFF) announced the firm has arranged $180 million in
financing for One Congress Street and
the Government Center Garage, an 11-story mixed-use asset comprising a
1,960-space parking garage with 202,854 square feet of office space and 23,212
square feet of retail space.
HFF worked on behalf of
the borrower, a joint venture between National Real Estate Advisors, LLC and
its Boston-based development partner, The HYM Investment Group, LLC, to secure
the short-term, floating-rate loan through Oxford Properties Group.
The property is centered
among many of Boston’s most popular neighborhoods and destinations, including
the Financial District, TD Garden, Faneuil Hall Market District, the Rose
Fitzgerald Kennedy Greenway, North End, West End and Beacon Hill.
The property draws a diverse set of parkers
ranging from commuters to event attendees to residents seeking overnight
parking. This location also offers immediate access to entrance ramps for
Interstate 93 as well as two on-site subway lines (MBTA Green Line and Orange
Line), providing connectivity to greater Boston.
 |
| Jennifer Keller |
The property is also the
site of Bulfinch Crossing, a 2.9 million-square-foot mixed-use development
project that will consist of residential, office, hotel and retail uses.
Led by the borrower, this
project will contribute to a transformation of the neighborhood and provide an
additional long-term source of demand for Government Center Garage. Bulfinch Crossing’s first phase, a 46-story
luxury residential tower, broke ground earlier in 2017.
 |
| Riaz Cassum |
The HFF debt placement
team was led by executive managing director John Fowler, senior managing director Riaz Cassum, director Jennifer
Keller and associates Xave Jacoby
and Chris Thomas.
The legal team working on
the financing, restructuring and land use matters consisted of four firms: Difede Ramsdell Bender PLLC and Goulston
& Storrs represented the borrower and Milbank, Tweed, Hadley & McCloy
LLP and DLA Piper represented the lender.
“Over the next 10 years,
the property will be the location of one of the largest and most exciting
mixed-use developments in Boston, while providing unprecedented demand for
parking,” Cassum said. “This financing
represents the first step in a long-term development plan and the formation of
a strategic lending relationship.”
For a complete copy of the company’s news release,
please contact:
Kristen Murphy
Director, Public Relations
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
tel 617-848-1572 | cell
617-543-4873 | www.hfflp.com
No comments:
Post a Comment