HFF has placed a $150 million first mortgage loan on 125 Summer St., a 475,303 s/f, class A office tower in the city's Financial District.
HFF worked on behalf of the borrower, Oxford Properties Group, to secure the fixed-rate loan through Guggenheim Commercial Real Estate Finance, LLC. Oxford acquired the property as part of a larger office portfolio in September.
125 Summer St. is located along the Rose Kennedy Greenway one block from South Station in the Financial District. The transit-oriented property has access to the MBTA and commuter rail lines via South Station and is adjacent to the on-ramps for both I-93 and 90. In addition, the 22-story property is a short walk from the shops, restaurants and residential base in Downtown Crossing, Government Center, Faneuil Hall and the Seaport District. 125 Summer St. is leased to a wide range of tenants including Burns & Levinson, Sunstein Kann Murphy, and Gartner. Amenities at the class A tower include below-grade parking for 273 vehicles, a Bright Horizons daycare and a Starbucks.
The HFF debt placement team representing the borrower was led by senior managing director Riaz Cassum, executive managing director John Fowler and real estate analyst Patrick McAneny.
"125 Summer is an institutional quality asset that is poised to benefit from its location in the Financial District, an area of the city that has seen an influx of more than 3,000 residents and is currently undergoing a transformation into a 24/7 neighborhood," said Cassum.
Established in 1960, Oxford Properties Group is a global real estate investor, developer and manager, with distinguished portfolios in the office, retail, industrial, multi-family and hotel sectors. Headquartered in Toronto with offices in Canada, New York, London, Boston and Washington, D.C., Oxford currently owns and manages a global real estate portfolio value at approximately C$27 billion.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: 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.