{"id":1004179685,"date":"2017-06-08T02:28:13","date_gmt":"2017-06-08T10:28:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004179685"},"modified":"2022-12-08T14:11:22","modified_gmt":"2022-12-08T22:11:22","slug":"nrea-hym-land-180m-in-financing","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nrea-hym-land-180m-in-financing\/","title":{"rendered":"NREA, HYM Land $180M in Financing"},"content":{"rendered":"<p>By Keith Loria, Contributing Editor<\/p>\n<div id=\"attachment_1004179719\" style=\"width: 412px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/hff.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004179719\" data-attachment-id=\"1004179719\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/nrea-hym-land-180m-in-financing\/hff-4\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/hff.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" 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;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"hff\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/hff.jpg?w=800\" class=\"wp-image-1004179719 \" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/hff.jpg\" alt=\"One Congress Street and the Government Center Garage\" width=\"402\" height=\"302\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/hff.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/hff.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/hff.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 402px) 100vw, 402px\" \/><\/a><p id=\"caption-attachment-1004179719\" class=\"wp-caption-text\">One Congress Street and the Government Center Garage<\/p><\/div>\n<p>A joint venture between\u00a0National Real Estate Advisors LLC\u00a0and The HYM Investment Group LLC has received $180 million in financing for One Congress Street and the Government Center Garage, an 11-story mixed-use building in Boston.\u00a0The asset\u00a0consists of 202,854 square feet of office space, 23,212 square feet of retail space and a 1,960-space parking garage.<\/p>\n<p>HFF secured the short-term, floating-rate loan through\u00a0Oxford Properties Group.\u00a0Difede Ramsdell Bender PLLC\u00a0and\u00a0Goulston &amp; Storrs\u00a0represented the borrower and\u00a0Milbank, Tweed, Hadley &amp; McCloy LLP\u00a0and\u00a0DLA Piper\u00a0represented the lender.\u00a0The debt placement was led by Executive Managing Director John Fowler, Director Jennifer Keller and associates Xave Jacoby and Chris Thomas.<\/p>\n<p>The mixed-use property is located nearby Boston\u2019s Financial District, TD Garden, Faneuil Hall Market District, the Rose Fitzgerald Kennedy Greenway, North End, West End and Beacon Hill. It offers immediate access to entrance ramps for Interstate 93 as well as two on-site subway lines (MBTA Green Line and Orange Line).<\/p>\n<p>The location\u00a0is also the future site of Bulfinch Crossing, a 2.9-million-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/the-story-behind-bostons-billion-dollar-bulfinch-crossing\/\">mixed-use development<\/a> project that will consist of residential, office, hotel and retail uses.\u00a0<\/p>\n<p>Bulfinch Crossing\u2019s first phase, a 46-story luxury residential tower, broke ground earlier in 2017. This new project is expected to contribute to a transformation of the neighborhood and provide an additional long-term source of demand for Government Center Garage.\u00a0<\/p>\n<p><em>\u201cOver the next 10 years, the property will be the location of one of the largest and most exciting mixed-use developments in Boston, while providing unprecedented demand for parking,\u201d <\/em>Riaz Cassum, HFF\u201ds senior managing director, said in a prepared release.<em> \u201cThis financing represents the first step in a long-term development plan and the formation of a strategic lending relationship.\u201d<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The loan represents the first step in a long-term development plan and the formation of a strategic lending relationship between the two companies.<\/p>\n","protected":false},"author":451,"featured_media":1004179719,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21808,21825,21742,10,21747],"tags":[33605,33026,35588,32792,36038,33606,33104,33607],"class_list":["post-1004179685","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-featured","category-finance","category-latest","category-northeast","category-office","tag-bulfinch-crossing","tag-dla-piper","tag-goulston-storrs","tag-hff","tag-milbank-tweed-hadley-mccloy","tag-national-real-estate-advisors","tag-oxford-properties-group","tag-the-hym-investment-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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