Northeast

PHILADELPHIA — U.S. Realty Capital has arranged a $7.77 million loan for the refinancing of two office buildings located near the Temple University Medical Campus in Philadelphia. Terms of the financing include a 6.25 percent interest rate, a 7-year term and a 25-year amortization schedule. The loan was originated by Brenner Green of U.S. Realty Capital’s Philadelphia office. The borrower and lender were undisclosed.

NEW YORK CITY — CB Richard Ellis (CBRE) has brokered a 15-year, 100,000-square-foot office lease at 7 Times Square in Manhattan, New York City. Law firm Pryor Cashman will relocate to the space, which encompasses the 39th through 41st floors of the tower, as well as almost half of the third floor. The move will consolidate the firm’s offices, which are located at 400 and 410 Park Ave., as well as 70 E. 55th St. The new space also contains 10,000 additional square feet, allowing for future growth. Pryor Cashman will occupy the space in mid-2009. CBRE’s Mark Ravesloot, Lewis Miller, Jason Gorman and Mike Wellen represented the tenants. The landlord, Boston Properties, was represented by John Powers, Peter Turchin and Christie Harle, also of CBRE. The deal follows two other recent large Manhattan office leases CBRE has arranged. The firm brokered Viacom’s renewal of 1.3 million square feet at 1515 Broadway, as well as Mercedes-Benz USA’s relocation of its flagship car dealership to 332,982 square feet at 770 11th Ave.

NEW YORK CITY — The topping off ceremony has been held for the structural steel of 11 Times Square, a 1.1 million-square-foot office tower under construction in Midtown Manhattan, New York City. Developed by SJP Properties, the building is on schedule for a 2010 completion. The building’s unique concrete core, which rises the entire height of the 40-story building and encases all of the building’s critical elements, was completed in October. The project is applying for LEED-Gold certification, making it one of the largest environmentally sustainable commercial projects in the Northeast.

BOSTON — BNY Mellon Center at One Boston Place, an approximately 800,000-square-foot office tower located in Boston and the third largest tower in the city, has been awarded LEED for Existing Buildings Gold certification from the U.S. Green Building Council. The property is owned by a joint venture between TIAA-CREF and SITQ. Anchor tenants at the tower include Bank of New York Mellon, Boston Capital Corp., Robinson & Cole and Wells Fargo. The tower also received the Environmental Protection Agency’s Energy Star rating in 2007.