{"id":1004107408,"date":"2014-11-13T07:52:33","date_gmt":"2014-11-13T15:52:33","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004107408"},"modified":"2022-12-08T10:15:03","modified_gmt":"2022-12-08T18:15:03","slug":"the-chiofaro-co-receives-500m-in-financing-for-boston-office-complex","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/the-chiofaro-co-receives-500m-in-financing-for-boston-office-complex\/","title":{"rendered":"The Chiofaro Co. Receives $500M in Financing for Boston Office Complex"},"content":{"rendered":"<p><i>By Keith Loria, Contributing Editor<\/i>\u00a0<a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/BOSTON.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004107409\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/the-chiofaro-co-receives-500m-in-financing-for-boston-office-complex\/boston\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/BOSTON.jpg\" data-orig-size=\"583,490\" 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=\"BOSTON\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/BOSTON.jpg?w=583\" class=\"alignright size-medium wp-image-1004107409\" alt=\"BOSTON\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/BOSTON.jpg\" width=\"300\" height=\"252\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/BOSTON.jpg 583w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/BOSTON.jpg?resize=300,252 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>The Chiofaro Co. and an institutional partner have received $500 million in financing for International Place, a 1.8 million-square-foot, Class A trophy office complex located in Boston\u2019s Financial District.<\/p>\n<p>HFF secured the fixed-rate loan with New York Life Real Estate Investors and Northwestern Mutual.<\/p>\n<p>\u201cThe Boston market is exceptionally strong today.\u00a0The market is experiencing a drastic tightening of fundamentals as tenants continue to demand quality space downtown in order to attract young talent,\u201d Riaz Cassum, HFF\u2019s senior managing director, told <i>Commercial Property Executive<\/i>. \u201cThe exciting rejuvenation of the Financial District, with over 2,700 apartment units in the pipeline, is helping create a highly attractive live\/work\/play environment.\u201d<\/p>\n<p>Originally completed in 1992, International Place has been a big part of the Boston skyline with its two signature interconnected office towers in the heart of the Financial District.\u00a0The property offers 360-degree unobstructed views and is considered to be the flagship of Boston\u2019s downtown waterfront and the gateway to its historic Financial District and the emergent Seaport District.<\/p>\n<p>Ionic marble columns surround the lobby\u2019s perimeter and enhance the building\u2019s classic opulence. Beneath the building\u2019s lobby, more than 800 parking spaces are provided for tenants and their guests.<\/p>\n<p>The building\u2019s tenant roster includes Choate Hall &amp; Stewart,\u00a0PayPal, Eaton Vance and Proskauer Rose. It was 86 percent occupied at the time of the refinancing.<\/p>\n<p>\u201cInternational Place is an iconic office property that has a dominant presence within Boston\u2019s financial district,\u201d Peter Jahn, Northwestern Mutual\u2019s director, said in a company statement. \u201cBoston is a dynamic city where it makes sense for us to invest on behalf of our policy owners.\u201d<\/p>\n<p>The complex\u2019s courtyard includes full-sized trees, an inspiring ceiling-to-floor waterfall, and numerous restaurants and retail shops, including Palm Restaurant, Starbucks, Au Bon Pain and Santander Bank.<\/p>\n<p>The complex is close to the South Station, Interstates 93 and 90, and Logan Airport via the Ted Williams and Callahan\/Sumner Tunnels.<\/p>\n<p>The HFF debt placement team was comprised of senior managing director Riaz Cassum and real estate analyst Patrick McAneny.<\/p>\n<p>&#8220;International Place defines world-class business in Boston. This is where the strongest firms in the city come to thrive and interact in a dynamic and distinct environment,\u201d Cassum added. \u201cPositioned adjacent to the Northern Avenue Bridge, connecting the established Financial District to the rejuvenated Seaport District, International Place provides a gateway to one of the newest and most exciting neighborhoods in the country.\u201d<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Chiofaro Co. and an institutional partner have received $500 million in financing for International Place, a 1.8 million-square-foot, Class A trophy office complex located in Boston\u2019s Financial District.<\/p>\n","protected":false},"author":952,"featured_media":1004107409,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,11,21742,21747],"tags":[39390],"class_list":["post-1004107408","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-midatlantic","category-latest","category-office","tag-boston"],"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>The Chiofaro Co. Receives $500M in Financing for Boston Office Complex - 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\/the-chiofaro-co-receives-500m-in-financing-for-boston-office-complex\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Chiofaro Co. 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