June 8, 2017
HFF arranged $180 million in financing for Boston’s One Congress Street and Government Center Garage, an 11-story, mixed-use asset comprising 202,854 square feet of office, 23,212 square feet of retail, with a 1,960-space parking garage. The borrower, a joint-venture between Washington, D.C.-based National Real Estate Advisors, LLC and Boston-based The HYM Investment Group, LLC, secured a short-term, floating-rate loan through Oxford Properties Group.
HFF’s John Fowler, Riaz Cassum, Jennifer Keller, Xave Jacoby and Chris Thomas handled the debt financing placement.
Cassum said, “Over the next 10 years, the property will be the location of one of the largest and most exciting mixed-use developments in Boston, while providing unprecedented demand for parking.”
The property’s central location among many of Boston’s most popular neighborhoods and destinations draws a diverse set of parking users. The 2.9-million-square-foot, mixed-use Bulfinch Crossing is under development at the site, including an initial 46-story luxury residential tower.
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