News: Financial Digest
Posted: January 7, 2009
Armstrong and Krolman of HFF arrange $13.7m for 147 Milk St.
The Boston and Dallas offices of Holliday Fenoglio Fowler, L.P. (HFF) have arranged $13.7 million in financing for 147 Milk St., a 52,337 s/f medical office building in the city's Financial District.
Working exclusively on behalf of the borrower, an affiliate of Lexington Realty Trust, HFF senior managing director Todd Armstrong and director Janet Krolman placed the fixed-rate loan with Delaware Investments. The first mortgage financing will also be serviced by HFF. Lexington Realty Trust is a self-managed and self-administered real estate investment trust that invests in, owns and manages a geographically diverse portfolio of single-tenant net leased office, industrial and retail properties.
Originally built in 1910 and renovated in 1984 for medical office use, the 10-story property is fully leased to Harvard Vanguard Medical Associates, Inc.
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