BOSTON, MA, April 7, 2014 - HFF announced today that it has arranged $204 million in construction financing for the development of Two Harbor Shore Drive, a 516,000-square-foot office building on Fan Pier in Boston`s Seaport District.
HFF worked on behalf of the borrower, a venture between The Fallon Company and an institutional client advised by Cornerstone Real Estate Advisers LLC, to secure the construction loan through RBS Citizens.
Due for completion in Spring 2016, and directly overlooking Fan Pier`s picturesque harbor, Two Harbor Shore Drive pairs views of Boston`s waterfront with a magnificent backdrop of the city skyline. The 17-story glass tower offers 516,000 square feet of ideally-located commercial space, and features 18,000 square feet for prime ground-floor retail opportunities. Approximately 380,000 square feet of 100-104 Northern Avenue`s commercial space will be occupied by Global 100 Law Firm, Goodwin Procter LLP.
The HFF debt placement team representing The Fallon Company was led by executive managing director John Fowler and managing director Anthony Cutone. The Citizens team was led by senior vice president Kevin Boyle and senior vice president Sean Randall.
Founded in 1993, The Fallon Company is a Boston-based commercial real estate development firm. In 2005, it acquired one of the most sought after waterfront sites in the United States - Fan Pier, a 21-acre property spanning nine city blocks and permitted for three million square feet of mixed-use development. When complete, this property will include offices with exceptional amenities, a world-class hotel, luxury residences, a marina and a host of retail and dining opportunities. Additional projects developed by The Fallon Company include The Westin Boston Waterfront Hotel, Park Lane Seaport, ONE Marina Park Drive, Fifty Northern Avenue and Eleven Fan Pier Boulevard. www.falloncompany.com.
Cornerstone Real Estate Advisers LLC, with subsidiary and affiliate offices in the U.S., UK, Europe and Asia, is one of the largest global real estate investment managers. It provides core and value-added investment and advisory services, including a comprehensive suite of private and public real estate debt, equity and securities expertise and services, to institutional and other qualified investors around the globe. Cornerstone is a member of the MassMutual Financial Group. More information is available at www.cornerstoneadvisers.com.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (HF). HFF operates out of 22 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 hfflp.com or follow HFF on Twitter at twitter.com/hff.
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Source: HFF, Inc. via GlobeNewswire