Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BOSTON-Tishman Speyer Properties said Monday that the 1.1-million-square-foot One Federal St. office property in downtown Boston, which it co-owns in a partnership, has been deleveraged, with a portion of its secondary debt being retired at a discount. A spokesman for Tishman Speyer tells GlobeSt.com the amount of debt and the discount were not disclosed.

Published reports earlier this year said that the debt was a $49-million senior mezzanine loan which was being sold by TIAA-CREF. The largest loan on the property is a $262-million interest-only balloon loan through LB-UBS Commercial Mortgage Trust, 2006-C4. Tishman Speyer and its partners, Lehman Brothers and Henley US Holdings One LLC, an affiliate of Abu Dhabi Investment Authority, had bought the 38-story property from German pension fund Jamestown for a reported $514 million in 2006.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.