Photo by Steve Adams | Banker & Tradesman Staff

Boston’s One Congress office tower received $650 million in refinancing from Bank of America and Wells Fargo.

The 1 million-square-foot office tower is co-anchored by State Street Corp.’s headquarters and InterSystems Corp., both of which signed their leases prior to the building’s completion in late 2023. 

JLL’s capital markets team represented owners Carr Properties and National Real Estate Advisors in sourcing the financing from Wells Fargo and Bank of America.

Designed by architects Pelli Clarke & Partners, the 43-story One Congress includes a full-floor amenity level, a 15,000 square-foot outdoor terrace, a 7,000-square-foot fitness center and a triple-height lobby with coffee bar and seating.

The tower is part of the 4.8-acre Bulfinch Crossing redevelopment of the former Government Center garage property, which includes the 46-story Sudbury apartment and condominium tower.

JLL Executive Managing Directors Riaz Cassum and Coleman Benedict, Senior Managing Director Jim Meisel, Director Mike Shepard and Associate Hugh Doherty represented One Congress ownership in sourcing the refinancing.

“Securing single-asset, single-borrower financing for assets, particularly office in the current environment, can be challenging. SASB lenders typically look for top quality assets with reputable borrowers, both of which One Congress had. The Carr and National partnership delivered an office asset that has redefined the trophy office landscape in Boston,” Cassum said in a statement.

PNC Real Estate led the syndication of the $570 million construction loan for One Congress in 2019.