BOSTON, MA – The Boston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged an $8.6 million financing for 300 Crown Colony, (top right photo) a 118,000-square-foot Class A office property in Quincy, Massachusetts.
HFF senior managing director Bob Herron, (middle left photo) director Greg LaBine (bottom right photo) and senior real estate analyst Porter Terry worked exclusively on behalf of the borrower, Campanelli Companies, to secure the fixed-rate loan through Boston Private Bank & Trust.
Loan proceeds were used to acquire the property and provide capital for building improvements and leasing costs.
“Given the acquisition nature of the deal, certainty of execution within a tight time frame around the holiday season was critical. Boston Private Bank worked with HFF and the borrower to dual track the commitment and loan documentation process such that the legal process was done shortly after the receipt of the loan commitment, with no changes to the deal from the original terms discussed.
This transaction is another example of HFF’s continued success on deals less than $15 million with local banks such as Boston Private Bank,” said LaBine.
300 Crown Colony is located on six acres within the Crown Colony office park close to the intersection of Interstate 93 and State Route 3 as well as the Quincy Adams MBTA station in Quincy, approximately 11 miles south of Boston.
The five-story property is 70% leased to tenants including Murphy, Hesse, Toomey & Lehane, LLP, LarsonAllen LLP and Massachusetts Eye & Ear. On-site amenities include the Crown Café and a conference center.
Established in 1947, Campanelli Companies is a full-service commercial real estate development company with extensive experience in the industrial, office, medical office, warehouse/distribution and retail markets.
To date, Campanelli has developed over 17 million square feet of commercial real estate property in New England and the Eastern Seaboard. The company’s signature capabilities include land development, design and build, redevelopment and value-added acquisitions.
It is Campanelli’s all-encompassing and quality services that have led to its successful track record as a highly-regarded developer; from site selection, feasibility analysis, local, state and federal permitting, to architectural and engineering design, building construction and facilities and property management.
With a cohesive development team that has worked together for more than fifty years, Campanelli can assure its clients that every aspect of a project is directed, monitored and controlled by Campanelli Companies. For more information, visit www.campanelli.com.
Contacts:
Robert M. Herron, HFF Senior Managing Director, 617) 338-0990,
rherron@hfflp.com
Gregory F. Labine, HFF Director, (617) 338-0990,
glabine@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,
krmurphy@hfflp.com
Penzance director of leasing Matt Pacinelli spearheaded the sales effort working with Bob Gibbs, Jeff Roman, and Bill Kamp of CB Richard Ellis.
