250 Summer StHFF has arranged $24.6 million in refinancing for a 104,709-square-foot office building in Boston’s Seaport District.

HFF worked on behalf of the borrower, a partnership between Synergy Investments and Independencia Asset Management to secure the long-term, fixed-rate loan through Boston-based Eastern Bank. Loan proceeds refinanced an acquisition loan on the property from HSBC Bank USA, which HFF arranged in 2012.

The property at 250 Summer St. is located across the Fort Point Channel from Boston’s Financial District and South Station. Originally built in 1903, it has eight stories of office space and is 100 percent leased to tenants including Morrison Mahoney LLP.

The HFF team representing the borrower was led by managing director Greg LaBine.

“Synergy did a tremendous job in executing their business plan for this asset,” LaBine said in a statement. “Synergy completed significant upgrades to the building and tenant spaces and leased up the remainder of the building. As such, it was now time to employ an asset/liability management strategy that took advantage of the favorable long-term rate environment. Eastern was attracted to the strength of the asset’s location, the durability of the cash flow and the track record of the sponsorship.”

Synergy Investments is a Boston-based real estate investment and development firm focused on the acquisition and operation of office, retail and residential assets, and their associated debt.

HFF Arranges $24.6M Refinancing Seaport District Office Building

by Banker & Tradesman time to read: 1 min
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