HFF has secured a $500 million refinancing for International Place, a 1.8 million s/f, class A trophy office complex in the city's Financial District.
Working on behalf of a joint venture between The Chiofaro Company and an institutional partner, HFF placed the fixed-rate loan with New York Life Real Estate Investors and Northwestern Mutual.
International Place was completed in 1992, and since then has defined the city skyline with its two signature interconnected office towers in the Financial District. The property offers 360-degree unobstructed views and is the flagship of the city's downtown waterfront and the gateway to its historic Financial District and the emergent Seaport District. With the Rose Kennedy Greenway at their doorstep, tenants enjoy easy access to South Station, I-93 and 90, and Logan Airport via the Ted Williams and Callahan/Sumner Tunnels. Major tenants at the property include Eaton Vance, Choate Hall & Stewart, Proskauer Rose and PayPal. The retail portion of the complex houses tenants such as the Palm Restaurant, Starbucks, Au Bon Pain, Santander Bank and Republic Fitness (coming soon).
The HFF debt placement team representing the borrower was led by senior managing director Riaz Cassum and real estate analyst Patrick McAneny.