$27M refinancing secured for Boston-area office building
JLL Capital Markets led the financing efforts for the fully leased One Heritage Drive in Quincy, Massachusetts
BOSTON, Sept. 26, 2023 – JLL Capital Markets announced today that it has arranged A $27 million refinancing for One Heritage Drive, a 172,849-square-foot office building in Quincy, Massachusetts.
JLL worked on behalf of the borrower, FoxRock Properties, to secure the five-year, fixed-rate loan through Metro Credit Union.
One Heritage Drive will be renovated in 2023 and is fully leased to Granite Telecommunications and will serve as their new company headquarters. The five-story building is positioned across the street from the North Quincy MBTA station providing service into Downtown Boston and beyond. Additionally, One Heritage Drive is close to Interstate 93 providing access to the entire Greater Boston metropolitan area as well as Logan Airport just a short drive to the north.
The JLL Capital Markets team representing the borrower was led by Senior Director Jonathan Schneider.
“Strong in-place metrics, along with the borrower’s exceptional reputation, resulted in a competitive marketing process with multiple lenders offering attractive financing options. The Metro Credit Union team executed a seamless closing process,” Schneider said.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 105,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About FoxRock Properties
FoxRock Properties is one of the fastest growing commercial real estate firms in the Greater Boston area, located in Quincy, MA. To learn more, please visit: foxrockproperties.com.