Seaport Office Properties Win $63M In Financing
ASB Real Estate Investments has obtained $63M in financing for 320 and 333 Summer St, two office properties totaling 217k SF in the Seaport District. HFF's Frederic Wittmann and Brett Paulsrud represented the borrower in the deal, which involves a 10-year, 3.65%, fixed-rate loan with The Hartford Financial Services Group.
320 and 333 Summer St are owned by ASB’s Allegiance Fund, a $6.8B open-end core investment vehicle, in JV with Lincoln Property, and are directly across from each other on Summer Street. The buildings' loft-style office space is 97% leased to LogMeln, a PC data systems management firm, which is merging into a subsidiary of Citrix.