BOSTON, MA – Holliday Fenoglio Fowler, L.P. (HFF) announced that it has secured $63 million in financing for 320 and 333 Summer Street, two office properties totaling 217,000 square feet in Boston’s Seaport District.
Working on behalf of the borrower, ASB Real Estate Investments, HFF placed the 10-year, 3.65 percent, fixed-rate loan with The Hartford Financial Services Group, Inc. The buildings are owned by ASB’s Allegiance Fund, a $6.8 billion, open-end core investment vehicle, in joint venture with Lincoln Property Company.
320 and 330 Summer Street are positioned directly across from each other along Summer Street just across the Fort Point Channel from South Station and Boston’s Financial District. The properties feature loft-style office space that is 97 percent leased to LogMeln, a PC data systems management firm, which is merging into a subsidiary of Citrix.
The HFF debt placement team representing the borrower was led by senior managing director Frederic Wittmann and director Brett Paulsrud.