BOSTON– Holliday Fenoglio Fowler, L.P. announced that it has arranged $111.5 million in first mortgage financing for 80 Guest Street, a 245,720-square-foot, trophy office and lab property situated in the Boston Landing master-planned development in the Allston/Brighton neighborhood of Boston.
HFF worked on behalf of the borrower, NB Development Group, to secure the fixed-rate loan through MetLife Investment Management.
Designed by famed architecture firm Elkus Manfredi, 80 Guest Street was the second asset to deliver in Boston Landing in September 2016. Home to New Balance’s world headquarters, Boston Landing has emerged as the city’s newest live-work-play district and will ultimately comprise 1.9 million square feet of office, retail, residential and hotel space when fully built-out.
The project has a dominant presence along the Massachusetts Turnpike feeding into Boston’s central business district and direct access to the MBTA Boston Landing commuter rail station on site. 80 Guest Street features eight floors of high-ceiling, office and lab space averaging an open 28,000-square-foot floor plate above 15,000 square feet of amenity retail.
The property is fully leased to four office tenants and three ground floor restaurant tenants, including Bose, Boston Bruins, Roche and Proteostasis.
The asset also consists of a 55,000-square-foot ice rink complex, known as the Warrior Ice Arena, which serves as the practice facility for the Boston Bruins NHL franchise.
The HFF debt placement team was led by executive managing director John Fowler, senior managing director Riaz Cassum and associates Sam Campbell and Henry Schaffer. Jim Halliday, managing director of NB Development Group, and Kevin Doyle, treasurer at New Balance, led the borrower team in the transaction.
NB Development Group is acclaimed for creating some of the country’s most widely recognized and successful athletic centers, as well as multifaceted developments that include and combine retail, residential, hotel and office uses. Today, NB’s strong, local portfolio, is comprised of a diverse array of major athletic training facilities, mixed-use developments, outlet retail, multi-family spaces, corporate headquarters, hotels and restaurants, and a parking garage.