3 Post Office Square, 24 Federal Street and 70 Franklin Street, Boston, MA
Arrangement of a fixed rate, first mortgage financing totalling $32.2 million
Savills arranged a fixed rate, first mortgage financing totalling $32.2 million on three separate Class B office buildings located in the Financial District of downtown Boston.
Although the properties were characterized by significant near-term lease rollover and considerable vacancy, the loans represented 65% of value, were not cross-defaulted and were placed at an attractive spread.
Savills placed the mortgage loans with Nationwide Life Insurance on behalf of MassMutual, the buildings' owner.
