BOSTON – The Boston office of HFF (Holliday Fenoglio Fowler, L.P.) announced that it has arranged a $29.5 million first mortgage financing for two office properties at 12 Farnsworth Street and 22 Boston Wharf Road as well as the Farnsworth Garage in Boston’s Seaport District.
HFF senior managing director Fred Wittmann and senior real estate analyst Carlos Febres-Mazzei worked exclusively on behalf of Berkeley Investments, Inc. to secure the five-year, fixed-rate loan through Cigna Investments. Loan proceeds will finance the portfolio, which was previously unencumbered, after full repayment of the prior mortgage in June 2010.
The portfolio is located across the Fort Point Channel from Boston’s Financial District and South Station in the Seaport District, which has been declared an “innovation district” by Mayor Thomas Menino. 12 Farnsworth Street, originally built in 1901, is a 57,361-square-foot office property that is 90 percent leased to several office tenants and the “renowned” Flour Bakery. 22 Boston Wharf Road, constructed in 2001, features a 58,132-square-foot, fully leased office property over a 500-space parking garage. The Farnsworth Garage, located at 21 Farnsworth Street, has 361 parking spaces.
Berkeley Investments, Inc. is a Boston-based, full-service real estate investment and development company with an entrepreneurial focus on urban commercial and mixed-use properties.