{"id":1004031861,"date":"2011-08-24T07:29:30","date_gmt":"2011-08-24T15:29:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004031861"},"modified":"2022-12-08T20:02:51","modified_gmt":"2022-12-09T04:02:51","slug":"230m-acquisition-financing-in-place-for-bostons-landmark-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/230m-acquisition-financing-in-place-for-bostons-landmark-center\/","title":{"rendered":"$230M Acquisition Financing in Place for Boston&#8217;s Landmark Center"},"content":{"rendered":"<p><strong>August 24, 2011<\/strong><br \/>\n<em>By Barbra Murray, Contributing Editor<\/em><br \/>\n<a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/08\/082411-Landmark-Center-Boston.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004031862\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/230m-acquisition-financing-in-place-for-bostons-landmark-center\/082411-landmark-center-boston\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/08\/082411-Landmark-Center-Boston.jpg\" data-orig-size=\"550,358\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"082411 &#8211; Landmark Center Boston\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/08\/082411-Landmark-Center-Boston.jpg?w=550\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/08\/082411-Landmark-Center-Boston.jpg\" alt=\"\" title=\"082411 - Landmark Center Boston\" width=\"150\" height=\"150\" class=\"alignright size-thumbnail wp-image-1004031862\" \/><\/a><\/p>\n<p>A $230 million financing deal has been put in place for the acquisition of the mixed-use Landmark Center in Boston. Commercial real estate services firm Holliday Fenoglio Fowler L.P. orchestrated the transaction, securing the funds for the $530.5 million purchase of the 950,000-square-foot property by a group of institutional investors advised by J.P. Morgan Asset Management and Samuels &amp; Associates.<\/p>\n<p>J.P. Morgan and Samuels bought Landmark Center, which first opened its doors in 1929 as a Sears retail store and distribution warehouse, from The Abbey Group with the assistance of the fixed-rate loan provided by New York Life Insurance Co. and New York State Teachers Retirement System. <\/p>\n<p>The lenders were not exactly taking a big chance in offering up the loan. Landmark Center is 98 percent leased, with the likes of Harvard School of Public Health, Harvard Medical School and Blue Cross Blue Shield of Massachusetts heading up the office tenant roster, and such leading retailers as Bed Bath &amp; Beyond, Best Buy and Staples occupying retail space.  The property underwent a comprehensive redevelopment at the hands of The Abbey Group in 2001.  <\/p>\n<p>Additionally, the Boston area should be seeing some significant strides in terms of an economic recovery. According to a Jones Lang LaSalle report, the city\u2019s economy is one of the best performing in the country. Business spending is strong, consumer spending is increasing and unemployment has dropped to less than 8 percent, significantly lower than the national average. <\/p>\n<p>An asset with room for growth is also an attractive feature to lenders and Landmark Center has it. The complex can accommodate the development of an additional 337,000 square feet of space. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>HFF has put in place a $230 million financing deal towards the $530.5 million purchase price of the mixed-use Landmark Center in Boston. <\/p>\n","protected":false},"author":1201,"featured_media":1004031862,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21752,21742,10],"tags":[],"class_list":["post-1004031861","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-mixed-use","category-latest","category-northeast"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>$230M Acquisition Financing in Place for Boston&#039;s Landmark Center - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/230m-acquisition-financing-in-place-for-bostons-landmark-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$230M Acquisition Financing in Place for Boston&#039;s Landmark Center\" \/>\n<meta property=\"og:description\" content=\"HFF has put in place a $230 million financing deal towards the $530.5 million purchase price of the mixed-use Landmark Center in Boston.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/230m-acquisition-financing-in-place-for-bostons-landmark-center\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2011-08-24T15:29:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T04:02:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/08\/082411-Landmark-Center-Boston.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"550\" \/>\n\t<meta property=\"og:image:height\" content=\"358\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nicholas Ziegler\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/230m-acquisition-financing-in-place-for-bostons-landmark-center\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/230m-acquisition-financing-in-place-for-bostons-landmark-center\\\/\"},\"author\":{\"name\":\"Nicholas Ziegler\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/ff3a837f33daecfcf8978b405eaae20c\"},\"headline\":\"$230M Acquisition Financing in Place for Boston&#8217;s Landmark Center\",\"datePublished\":\"2011-08-24T15:29:30+00:00\",\"dateModified\":\"2022-12-09T04:02:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/230m-acquisition-financing-in-place-for-bostons-landmark-center\\\/\"},\"wordCount\":286,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/230m-acquisition-financing-in-place-for-bostons-landmark-center\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2011\\\/08\\\/082411-Landmark-Center-Boston.jpg\",\"articleSection\":[\"Featured\",\"Mixed Use\",\"News\",\"Northeast\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/230m-acquisition-financing-in-place-for-bostons-landmark-center\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/230m-acquisition-financing-in-place-for-bostons-landmark-center\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/230m-acquisition-financing-in-place-for-bostons-landmark-center\\\/\",\"name\":\"$230M Acquisition Financing in Place for Boston's Landmark Center - 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