Sale and financing for Two Liberty Square in Boston, Massachusetts, arranged by HFF
BOSTON, MA – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged the sale of and acquisition financing for Two Liberty Square, a 67,609-square-foot office building in Boston, Massachusetts.
The seller, CenterSquare Investment Management, on behalf of one of its institutional clients, sold the asset to an affiliate of The Winhall Companies. Additionally, working on behalf of the new owner, HFF secured the 10-year, fixed-rate loan through SunLife.
Originally constructed in 1913, the 11-story, Beaux Arts-style, boutique office building is located in downtown Boston steps from Post Office Square. The property is 82 percent occupied by tenants including Zipcar on the ground floor in addition to Humana, Arthur J. Gallagher, Copyright Clearance Center and Brill.
The HFF investment sales team representing the seller was led by senior managing director Coleman Benedict and director Ben Sayles.
The HFF debt placement team was led by director Lauren O’Neil.
“The sale of Two Liberty Square is a win-win for both the buyer and seller,” Sayles said. “CenterSquare was able to take advantage of today’s strong market, while Winhall was able to take advantage of historically low interest rates and acquire an asset that will perform exceptionally well in the years to come”.
According to HFF, Boston has emerged as a favorite investment market among today’s most active capital sources. Due to the surging tenant demand from traditional users and the influx of TAMI tenants – those engaged in technology, advertising, media and information – market conditions are getting tighter by the day.
About CenterSquare Investment Management
Founded in 1987, CenterSquare Investment Management is a real asset manager focused on listed and private equity real estate and listed infrastructure investments, accessed via U.S.-only and global strategies. CenterSquare is the real asset investment subsidiary of BNY Mellon. CenterSquare's investment strategy seeks to target middle market, transitional assets that require an infusion of capital and operational expertise to enhance value. CenterSquare invests in industrial, office, multifamily, retail, parking and hospitality through joint venture partnerships with local operators. For more information, please visit the company’s website at www.centersquare.com.
About The Winhall Companies
The Winhall Companies, founded in 1974 focuses on the long-term ownership and management of historical Boston multi-tenant office buildings, and the development, ownership and management of core assets in strong Boston suburban markets.
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.