BOSTON — HFF has arranged $112 million in refinancing for Seaport Square, a master-planned development in Boston’s Seaport District. The Seaport Square project includes 20 buildings of varying sizes totaling 6.3 million square feet of commercial development. HFF worked on behalf of the borrower, a joint venture between Boston Global Investors and Morgan Stanley Real Estate Investing, to secure a six-year loan through Starwood Property Trust. The loan was structured to allow the borrower flexibility in selling parcels while maintaining leverage such that the loan will likely carry the sponsor through full execution of its business plan. Collateral for the loan consists of 15 development sites, which have been used as parking lots. The Boston Redevelopment Authority has granted the necessary approvals for the parking lots to be converted to 6.3 million square feet of offices, residences, shops, restaurants, schools, hotels and open space. Located across the Fort Point Channel and the Financial District, the parcels are situated in the heart of the Hub’s Seaport District. John Fowler, Anthony Cutone and Brett Paulsrud led the HFF team representing the borrower.
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