BOSTON, MA, January 30, 2014 - HFF announced today that it has arranged construction financing for Twenty Two Liberty, a 14-story, luxury residential tower at Fan Pier, featuring sweeping views of Boston Harbor and the city skyline from Boston`s Innovation District.
HFF worked on behalf of the borrower, a venture between The Fallon Company and Massachusetts Mutual Life Insurance Company (MassMutual), as advised by Cornerstone Real Estate Advisers, to secure the construction loan through Wells Fargo Bank.
The Twenty Two Liberty residences will be situated on the most seaward parcel of the Fan Pier mixed-use development, offering 270-degree vistas of Boston`s cityscape on one side and the Boston Harbor on the other. Due for completion in late 2015, the property will also include 15,025 square feet of ground-floor retail and a 282-space, below-grade parking structure. Designed by world-renowned CBT Architects, Twenty Two Liberty will feature condominiums with several configurations, from studio pieds-a-terre to three-plus bedroom homes. Residents of Twenty Two Liberty will have access to 24-hour concierge support, private shuttle service around the city, and will be within steps of Fan Pier`s fine dining and retail establishments.
The HFF team representing the borrower was led by executive managing director John Fowler, managing director Anthony Cutone and real estate analyst Toby Banta. The Wells Fargo team was led by Shelly Gouin.
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 directly overlooking Boston`s working harbor. When fully complete, Fan Pier will consist of more than three million square feet of residential, commercial, hotel, retail and civic/cultural space with unobstructed views of the waterfront and Boston skyline, as well as direct access to all means of transportation - including South Station, a water taxi to Boston`s Logan Airport and the Financial District, Hubway bikes onsite and easy access to several interstate highways. 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 ("Cornerstone"), 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 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 www.hfflp.com or follow HFF on Twitter at www.twitter.com/hff.
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Source: HFF, Inc. via GlobeNewswire