BOSTON, MA – National real estate developer Fortis Property Group has closed a more than $1 billion refinancing of One Lincoln, a class A office building in Boston's Financial district. The loan proceeds will be used to repay existing debt and provide more than $200 million in capital upgrades geared toward wellness and lifestyle amenities and future leasing costs.
Fortis Property Group has additionally secured Boston-based, global private equity firm HarbourVest Partners as the building's new anchor tenant. HarbourVest Partners has signed a more than 250,000-square-foot, long-term office lease at the property that encompasses 11 floors.
As a part of the lease agreement, HarbourVest Partners will replace State Street Corp. as the building's namesake. The private equity firm plans to move its Boston headquarters and its more than 650 Boston-based employees into the building in 2025.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
