BOSTON—The ownership of the 1.8-million-square-footInternational Place office complex here hassecured a $500-million refinancing of the property located in thecity's Financial District.

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The refinancing was announced by HFF, whichplaced the fixed-rate loan with New York Life Real EstateInvestors and Northwestern Mutual onbehalf of a joint venture between The Chiofaro Co.and an institutional partner. The HFF debt placement team thatrepresented the borrower was led by senior managing directorRiaz Cassum and real estate analystPatrick McAneny.

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In a seperate announcement, Northwestern Mutual announced itfunded $250 million of the $500-million mortgage loan refinance forInternational Place.

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International Place was completed in 1992, and since then hasbeen one of the defining elements of the Boston skyline with itstwo signature interconnected office towers in the heart of theFinancial District. The 46 and 35-story towers offer 360-degreeunobstructed views.

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Major tenants at the property include Eaton Vance, Choate Hall& Stewart, Proskauer Rose and PayPal. The retail portion of thecomplex houses tenants such as the Palm Restaurant, Starbucks, AuBon Pain, Santander Bank and Republic Fitness (coming soon).

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In September, the law firm Choate Hall & Stewart LLP renewedits lease at International Place. The firm has been headquarteredat the building since 2005.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.