BOSTON, MA –HFF has arranged a $112 millionrefinancing for Seaport Square, a master-planned development areain the Seaport District. The Seaport Square master plan encompasses20 buildings of varying sizes, totaling 6.3 million square feet ofcommercial development.
HFF worked on behalf of the borrower, a venture betweenBoston Global Investors and Morgan StanleyReal Estate Investing, to secure a six-year loan throughStarwood Property Trust. The loan wasstructured to allow the borrower flexibility in releasing parcelswhile maintaining leverage such that the loan will likely carry thesponsor through full execution of their business plan, according toHFF.
Collateral for the loan consists of 15 development sites, whichhave historically been used as parking lots, and are fully approvedby the Boston Redevelopment Authority for 5.3million square feet of new retail, residential, hotel and officedevelopment. Located directly across the Fort Point Channel fromBoston's Financial District, the development sites are situated inthe heart of Boston's Seaport District.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
