The Hartford and Boston offices of Holliday Fengolio Fowler LP (HFF) was instrumental in helping secure $16.5 million in financing for two downtown Boston office buildings.
Working exclusively on behalf of Cornerstone Real Estate Advisers LLC, HFF senior managing director Dana Brome placed the four-year, fixed-rate loan with Ocean Bank, a division of People’s United Bank, to refinance an existing mortgage on 24 Federal St. and 3 Post Office Square, which became due. Together, the buildings total 139,473 square feet.
Located adjacent to Post Office Square, 24 Federal St. and 3 Post Office Square offer tenants access to public transportation at South Station, Downtown Crossing and Park Street stations as well as Interstate 93, the Massachusetts Turnpike and the Ted Williams Tunnel. Twenty Four Federal Street has 12 stories with 74,406 square feet and 3 Post Office Square has 65,067 square feet in 11 stories. Both properties have ground floor retail space and are 93.5 percent occupied by tenants including BancWare, CVS, Dunkin Donuts, Century Bank and TD Ameritrade.
HFF operates out of 17 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.
