BOSTON, MA, August 25, 2014 - HFF announced today that 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. 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.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit www.hfflp.com or follow HFF on Twitter at www.twitter.com/hff.
HFF Managing Director
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Source: HFF, Inc. via GlobeNewswire
- Real Estate