HSBC Refinances Mixed-Use Asset in Boston’s Back Bay
- Apr 06, 2015
HSBC has provided Synergy Investments with $55 million in first mortgage financing for 185 Dartmouth Street, a 164,559-square-foot Class A boutique office and retail building in Boston’s Back Bay neighborhood. HFF arranged the loan. Proceeds were used to pay off existing debt, to provide capital for Synergy’s business plan and to return equity upon stabilization.
Completed in 1937, 185 Dartmouth Street recently underwent extensive renovations to modernize the building while retaining its classic Art-Deco appeal. The 11-story building offers tenants 45 on-site parking spaces, eight floors of boutique office space, ground-floor retail and the Healthworks-leased two-floor fitness center. Tenants include Denham Capital, First American Title, Boston Athletic Association, Starbucks, Freshii and FedEx Kinkos.