Holliday Fenoglio Fowler, L.P. (HFF) has arranged $191 million construction financing for The Van Ness, a 762,000 s/f mixed-use project located in the city's Fenway Triangle neighborhood.
HFF worked on behalf of the borrower, a joint venture between Samuels & Associates and institutional clients advised by J.P. Morgan Asset Management, to secure the long-term, fixed-rate financing through Northwestern Mutual.
The Van Ness is located at 1325 Boylston St. within walking distance of the Longwood Medical Area near Kenmore Sq., the city's Back Bay neighborhood and the town of Brookline. The project will include 172 residential units situated above a three-story, 169,000 s/f Target department store. The property will also include 31,000 s/f of ground-floor retail, an 11-story, 233,000 s/f, class A office tower and 506 parking spaces.
The HFF team representing the borrower was led by director Greg LaBine. "With The Van Ness, Samuels will continue their vision for the Fenway neighborhood to be a premier live/work/play destination in Boston," said LaBine. "The combination of high-quality residences, first-class office space and superior shopping anchored by Target make this a welcome addition to Fenway."