Fallon's Fan Pier MF Tower Lands Wells Fargo Loan

BOSTON-Wells Fargo has provided construction financing for Twenty Two Liberty, a 14-story, luxury multifamily tower at Fan Pier. The apartment tower is the first residential component of the $3-billion mixed-use project under development by a partnership that includes the Fallon Co., MassMutual and Cornerstone Real Estate Advisers LLC, an indirect subsidiary of MassMutual.

The size of the loan was not disclosed, and Fallon Co. has not revealed the projected cost of building Twenty Two Liberty. An HFF team that included executive managing director John Fowler, managing director Anthony Cutone and real estate analyst Toby Banta arranged the financing.

One of the country's largest MXDs, Fan Pier spans 21 acres and nine city blocks. Twenty Two Liberty reportedly is the first new-construction, water-view luxury condominium project to be built in Boston since 2009, and is scheduled for completion in late 2015.

Earlier this month, Fallon said it had finalized an agreement with Gunderson Dettmer Stough Villeneuve Franklin & Hachigian LLP on a 10-year office lease at Fan Pier. The law firm will relocate from Waltham to more than 27,000 square feet on the ninth floor of Fan Pier's One Marina Park Drive office tower by September of this year. With a tenant roster that includes Gunderson Dettmer clients Battery Ventures and Polaris Partners, One Marina Park is already 90% leased.

Along with One Marina Park, Fan Pier currently features two commercial towers that will house the global headquarters of Vertex Pharmaceuticals beginning later this year: Fifty Northern Ave. and Eleven Fan Pier Blvd. Additionally, Fallon in January announced plans for 100-104 Northern Ave., a 17-story, 516,000- square-foot office tower featuring 18,000 square feet of ground-floor retail. The company plans to break ground on the building later this year.