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| Jennifer Keller |
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| John Fowler |
BOSTON, MA –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has secured $80 million in acquisition
financing for Suffolk Downs, a 161.2-acre, transit-oriented development site
located in East Boston and Revere, Massachusetts.
Working on behalf of the
borrower and buyer, The HYM Investment Group, LLC, HFF placed the short-term,
floating-rate loan with Bank of the Ozarks.
Additionally, HFF acted as an advisor to the buyer in the transaction.
Suffolk Downs is located
between East Boston and Revere, just four miles from Boston’s downtown
commercial core.
The site comprises
108.8 acres in Boston and 52.4 acres in Revere and is adjacent to Route 1A,
allowing quick vehicular access to downtown Boston and Logan International
Airport.
The transit-oriented property is also served
by two MBTA Blue Line stations, Suffolk Downs and Beachmont, providing access
to downtown Boston in less than ten minutes. The site is currently the location
of the Suffolk Downs horse racing facility, which will have its last racing
season in summer of 2018.
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| Anthony Cutone |
The HFF team was led by
executive managing director John Fowler,
managing director Anthony Cutone,
director Jennifer Keller and
associate Andrew Gray.
“We are thrilled to be
involved in the capitalization of one of the largest and most exciting
mixed-use projects in East Boston and Revere,” said Fowler. “HYM is undoubtedly the right team for the
project, and to work with the local communities to bring much needed
transit-oriented housing, retail, amenities and businesses to the area.”
The HYM Investment Group,
LLC is a Boston-based real estate company focused on the acquisition,
development and management of complicated urban mixed-use projects.
HYM is currently leading
the development of over nine (9) million square feet of mixed-use development
in Greater Boston, including the following notable and complex projects:
Bulfinch Crossing (Government Center Garage redevelopment),
NorthPoint/Twenty|20 and Suffolk Downs Redevelopment.
In addition, HYM is the co-developer of 80
Guest Street (Boston Bruins Training Facility at Boston Landing), 125 Guest
Street (Luxury Apartment Tower at Boston Landing) and Waterside Place (Seaport
District Luxury Apartment Tower).
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| Andrew Gray |
HYM is focused on creating
significant value for investors by recognizing real estate opportunities where
others may not.
Each real estate asset
is treated as a unique real estate opportunity, and each asset plan seeks to
cause the real estate to reconnect, energize and enhance the urban communities
of which it is a part.
For more than 35 years HYM’s principals have
been working on real estate ventures in the Boston, New York and Washington,
D.C. corridor.
For more information visit
www.hyminvestments.com.
For a complete copy of the company’s news release,
please contact:
Kristen
M. Murphy
Director, Public Relations
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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