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The refinancing deal was announced by PGIM Real Estate Finance, which provided a $164-million Fannie Mae loan to Lowell-based Princeton Properties Management.
The sale price more than likely is north of $100 million since CrossHarbour acquired the property in 2016 for $101 million and since then undertook a multi-million-dollar capital improvement plan at the hotel that was completed in 2017.
The firm behind Built states that the new platform will offer tenants turn-key, pre-built space fully furnished with best-in-class finishes and modern workstations.
The bank has signed a new 15-year lease deal for 545,000-square feet or roughly half of the 1.2-million-square-foot, 37-story office building at 100 Federal St.. The lease deal is an early renewal of Bank of America's lease that was scheduled to expire in 2022.
Originally built in 2006 within the Hembree Park master-planned community, the Roswell Distribution Center comprises two buildings featuring 26 dock doors, two drive-in doors and clear ceiling heights up to 24 feet.
Stearns will oversee CBRE's global finance and accounting organization, including tax, treasury, balance sheet management, financial planning and analytics and investor relations.