The $240 million financing package includes Eastern, which is maintaining an equity stake in the project and Lend Lease Real Estate Investments Inc., which is contributing equity from two of its funds. FleetBoston Financial Group and Wells Fargo & Co. are backing a $150 million construction loan. The tower becomes the seventh in a series of major office buildings which have been constructed here in the Downtown area within the past few years, including 111 Huntington Ave., One Lincoln St. and World Trade Center East.
Dean Stratouly, president of Congress Group, did not return calls by presstime. He reportedly said that he is currently negotiating with three prospective tenants who would potentially occupy all 600,000 sf of space in the building.
The tower project was mired in some controversy when it was first proposed about four years ago because of its design using glass panes. The design has been modified, with stone added to the façade.
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