The Boston office of Holliday Fenoglio Fowler, L.P. (HFF) has secured a $6.4 million refinancing for Mystic Commerce Center, a two-building, 252,474 s/f industrial facility.
Working exclusively on behalf of Combined Properties, Inc., HFF directors Greg LaBine and Janet Krolman placed the five-year, fixed-rate loan with PPM Finance, Inc. on behalf of Jackson National Life Insurance Company. Loan proceeds are replacing the existing first mortgage debt. HFF will also service the loan.
Mystic Commerce Center is located at 143-201 and 172-180 Williams St. close to U.S. Rte. 1, downtown Boston and Logan International Airport.
"A number of Mystic Commerce Center tenants have been in occupancy since the late 1980's and early 1990's demonstrating the strength of the asset and its location. The property sits adjacent to Rte. 1, within a quarter of a mile from the entrance to the Tobin Bridge," said Krolman.
Combined Properties, Inc. is a full-service real estate investment and development firm specializing in high-quality office, R&D, industrial and retail properties in the northern suburbs of Boston. Since its founding the company has purchased, developed and managed more than two million square feet of space.
Holliday Fenoglio Fowler, LP ("HFF") and HFF Securities LP ("HFFS") are owned by HFF, Inc. (NYSE: HF). HFF 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 together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, structured finance, private equity, loan sales, and commercial loan servicing. www.hfflp.com.