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HYM Investment Group’s redevelopment of Boston’s Government Center garage property has received $180 million in short-term financing from Oxford Properties Group.
The 2,300-space garage spanning Congress Street is being partially disassembled to make way for a 46-story luxury apartment tower, the tallest in New England.
HFF represented HYM and its joint venture partner, National Real Estate Advisors, to secure the floating-rate loan. The HFF debt placement team was led by executive managing director John Fowler, senior managing director Riaz Cassum, director Jennifer Keller and associates Xave Jacoby and Chris Thomas.
The legal team working on the financing, restructuring and land use matters consisted of four firms: Difede Ramsdell Bender PLLC and Goulston & Storrs represented the borrower and Milbank, Tweed, Hadley & McCloy LLP and DLA Piper represented the lender.
Future phases of the 2.9-million-square-foot Bulfinch Crossing project include a 43-story, 1-million-square-foot office tower, 28-story residential building, 204-room hotel, mid-rise office building and retail space.
