HFF has arranged $204 million in construction financing for the development of 100 Northern Ave., a 516,000 s/f office building on Fan Pier in the city'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 harbor, 100 Northern Ave. pairs views of the city's waterfront with a backdrop of the city skyline. The 17-story glass tower offers 516,000 s/f of commercial space, and features 18,000 s/f for ground-floor retail opportunities, and 380,000 s/f of commercial space will be occupied by Global 100 Law Firm, Goodwin Procter LLP.
The HFF debt placement team representing The Fallon Co. 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 Co. 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 3 million s/f of mixed-use development. When complete, this property will include offices with exceptional amenities, a hotel, luxury residences, a marina and a host of retail and dining opportunities. Additional projects developed by The Fallon Co. include The Westin Boston Waterfront Hotel, Park Lane Seaport, ONE Marina Park Dr., Fifty Northern Ave. and Eleven Fan Pier Blvd.