BOSTON—A venture of affiliates of Ares ManagementLLC and CV Properties LLC has secured$240 million in permanent financing for the newly built OneChannel Center office building and Channel CenterGarage here.
The deal was announced by HFF, whichrepresented the borrower in the transaction. The financing wasstructured as a $190-million first mortgage, and a $50-millionmezzanine loan. HFF also arranged the $170-million constructionloan for the property in 2012. Managing Director AnthonyCutone and Senior Real Estate Analyst BrettPaulsrud led the HFF debt placement team in the deal.
The One Channel Center building in the city's Seaport Districttotals 501,650 square feet, while the garage features 967 spaces.Designed by the architectural firm of Add Inc. incollaboration with Spalding Tougias Architects,the property was built with “creative space” in mind, incorporating“cutting edge design” and space planning to optimize collaboration,efficiency and productivity, HFF officials stated.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
