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The financing will facilitate the construction of a 1.2-million-square-foot mixed-use tower, part of a 1.9-million-square-foot development that will feature office, residential condominium and retail space.
Hines Global REIT acquired the Riverside Center office complex at 275 Grove St. in 2013. Designed by Elkus Manfredi Architects and completed in 2000, Riverside Center comprises three separate four-story buildings connected by a full-height glass-enclosed atrium.
What is known as the WeWork phenomenon, where companies have essentially adopted flex space and layered on amenity offerings, has become far-reaching, beyond start-ups to corporate America.
Refinancing of $126.2 million was secured for Dublin Corporate Center, a 447,771-square-foot complex, on behalf of a joint venture between funds managed by Oaktree Capital Management LP and Hines.