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Broadway Partners Settles Some Old Debts

BOSTON-Broadway Partners is obtaining a five-year nonrecourse first mortgage loan of $53.3 million for Ten/10 Post Office Square.

By Ryan Clark | Updated on April 30, 2009

BOSTON-New York-based Broadway Partners is refinancing 10 Post Office Sq. here. The $53.3 million loan is a five-year non-recourse provided by Metropolitan Life Insurance Co. Gramercy Capital Corp. handled a $19 million, five-year mezzanine loan. The refi helps Broadway Partners to retire $10.5 million of existing debt held by the two lenders.

The 90%-leased office building sits squarely in the Financial District, topping out at 13 stories. Broadway picked up the property for $108 million in May of 2006 from Walton Street Capital.

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