Holliday Fenoglio Fowler, L.P. (HFF) has arranged a $26 million refinancing for Landmark Sq., a 132-unit, class A multi-housing property in the city's Back Bay/Fenway area.
HFF senior managing director Bob Herron, director Greg LaBine and senior real estate analyst Porter Terry worked exclusively on behalf of the borrower, The Abbey Group, to secure the fixed-rate loan through Prudential Mortgage Capital Company. Loan proceeds are refinancing a maturing loan.
Landmark Sq. is located at 75 Peterborough St. within walking distance to the Longwood Medical area, Fenway Park and Symphony Hall.
Completed in 2000, the seven-story property has one, two and three-bedroom units averaging 984 s/f each. Landmark Sq. is 96% leased and includes an 89-space underground parking garage.
"Landmark Sq. was a very attractive transaction to bring to market given its high-quality sponsorship, Class A product, and location on an upscale street within close proximity to several of the city's most prestigious educational institutions and cultural hubs," said Herron.
The Abbey Group is a Boston-based commercial real estate developer and owner. The company's current portfolio includes the Landmark Center mixed-use development, Lafayette Corporate Center and 45 Province.
HFF (NYSE: HF) operates out of 17 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, loan sales and commercial loan servicing. www.hfflp.com.