Boston Office Property Gets $112M in Financing
- Jun 26, 2019
NB Development Group has landed a $111.5 million first mortgage financing for 80 Guest Street, its Class A office building in Boston. The 245,720-square-foot property is located within the Boston Landing mixed-use development in the Allston/Brighton neighborhood.
The 10-story office building was built in 2016 and was the second property to be completed within the Boston Landing development. Designed by architecture firm Elkus Manfredi, 80 Guest Street offers open floorplates for office and lab space and is currently 100 percent occupied by tenants including Bose, the Boston Bruins, Roche and Proteostasis.
The building features three levels of parking and 12,000 square feet of ground-floor retail. Additionally, the property houses the 55,000-square-foot Warrior Ice Arena, which serves as the practice facility for Boston’s professional NHL ice hockey team, the Bruins. Located just off the Massachusetts Turnpike, the building offers direct access to the MBTA Boston Landing commuter rail station.
An HFF team including John Fowler, Riaz Cassum, Sam Campbell and Henry Schaffer represented the borrower in the deal and secured the fixed-rate loan through MetLife Investment Management.
Live, work, play
Once completed, Boston Landing will comprise 1.9 million square feet of office, retail, residential and hotel space, including a 295-unit residential building and a 175-key hotel. Approved by the City of Boston in 2012, the development also features the previously completed office building 20 Guest Street, a 228,830-square-foot office property built in 2001, 40 Guest Street, also known as The Auerbach Center, a 160,000-square-foot property that also includes a basketball training facility for the Boston Celtics and 100 Guest Street, a 250,000-square-foot LEED Platinum-certified office property that serves as the headquarters for shoe brand New Balance.