$74.24 million first mortgage financing secured by HFF for 830 Winter Street in Waltham, Massachusetts
BOSTON, MA – September 21, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $74.24 million in first mortgage financing for 830 Winter Street, a 182,104-square-foot, Class A lab/biotech building in Waltham, Massachusetts, a western suburb of Boston.
HFF worked on behalf of the borrower, a joint venture between King Street Properties and an affiliate of Carlyle Realty Partners VII, LP, in arranging the floating-rate loan with Wells Fargo.
830 Winter Street is situated off Route 95/Route 128 at exit 27 in Waltham about 12 miles west of Boston. This location places the asset between Route 2 to the north and Interstate 90/the Massachusetts Turnpike to the south and in close proximity to the new 1265 Main Street mixed-use development. Completed in 2001 as the flagship headquarters for Praecis Pharmaceuticals, the property remains fully leased today to ImmunoGen, GlaxoSmithKline and Histogenics Corporation.
The HFF debt placement team representing the borrower was led by managing director Greg LaBine.
“This is one of the premier laboratory facilities in the Boston suburbs,” said LaBine. “As is the case with many acquisitions in the current market environment, the financing had to be obtained quickly to hit the tight closing time frame. HFF, along with a tremendous effort by the Wells Fargo team, was able to close the deal within 54 days of our initial engagement.”
About King Street Properties
King Street Properties is a private real estate investment management firm focused on serving the complex real estate needs of science-based companies and institutions. The company acquires, develops, owns and operates science-based real estate with a current portfolio of over $150 million of laboratory and office space concentrated in the core science submarkets of Boston, Massachusetts. Kingstreetproperties.com
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $193 billion of assets under management across 128 funds and 159 fund of funds vehicles as of June 30, 2015. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,700 people in 35 offices across six continents.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.