Finance Mortgage Banking
May 1, 2009
Broadway Partners has completed the refinancing of Ten/10 Post Office Square, a 13-floor, 435,000-square-foot office property located in Boston, Mass. A five-year non-recourse first mortgage $53 million loan was provided by Metropolitan Life Insurance Co., while Gramercy Capital Corp provided a $19 million five-year mezzanine loan. As part of the transaction, Broadway Partners retired a total of approximately $10.5 million of existing debt held by the two lenders. The property, which is 90 percent leased, consists of two buildings overlooking Boston’s Post Office Square.
Broadway Partners has completed the refinancing of Ten/10 Post Office Square, a 13-floor, 435,000-square-foot office property located in Boston, Mass. A five-year non-recourse first mortgage $53 million loan was provided by Metropolitan Life Insurance Co., while Gramercy Capital Corp provided a $19 million five-year mezzanine loan. As part of the transaction, Broadway Partners retired a total of approximately $10.5 million of existing debt held by the two lenders. The property, which is 90 percent leased, consists of two buildings overlooking Boston’s Post Office Square.
Recent Mortgage Banking Headlines
