A 70%-leased property commanding lease rates ranging from thelow-to-mid-$20s per square foot, 300 Crown Colony is a solidpick-up in the current market. Campanelli partner Dan Demarcoindicates its amenities, a Boston Marriott Quincy, restaurants anddaycare facilities, among others, as key to this property'sconsistent value. "I consider [Crown Colony] to be one of the fivebest master-planned office parks around Boston." With new rampsopened up straight from the highway, as well, the park makes foreasier commuting. "With vacancy high and rents are down, long turnit's a great opportunity in the market."


Holliday Fenoglio Fowler L.P. helped provide the financing forthe class A property, which was used for acquisition financing andto provide capital for improvements and leasing costs. "Given theacquisition nature of the deal, certainty of execution within atight time frame around the holiday season was critical," says HFFdirector Gregory Labine, in a statement. "Boston Private Bankworked with HFF and the borrower to dual track the commitment andloan documentation process such that the legal process was doneshortly after the receipt of the loan commitment, with no changesto the deal from the original terms discussed."


Located on six-acres within Crown Colony, 300 Crown is fivestories with floor plates of 25,000 square feet, holding the likesof Murphy, Hesse, Toomey & Lehane, LLP; LarsonAllen LLP; andMassachusetts Eye & Ear. Stephen Murphy, partner at Campanelli,led the acquisition. Chusman & Wakefield's capital markets teamof Robert Griffin, Edward Maher and Marci Griffith Loeber reppedthe seller Invesco Real Estate.

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