Hancock Tower's Price Cut in Half

BOSTON-The John Hancock Tower may sell for half of the $1.3 billion Broadway Partners paid for it in 2006 if a group of lenders gets its way, according to reports.

By Bloomberg | March 31, 2009 at 06:35 AM

Normandy, based in Morristown, NJ, already controls about $472 million of the tower's loans, according to sources. The firm already has a portfolio of office buildings in the Boston area, including 99, 281 and 321 Summer St. The 60-story John Hancock Tower was acquired by Broadway Partners as part of a 10-asset transaction with Beacon Capital Partners.

To read the full Bloomberg article, click here.

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