Holliday Fenoglio Fowler, L.P. closes $18 million sale and arranges $12.5 million financing for Tower at Northwoods

Danvers, MA Holliday Fenoglio Fowler, L.P. (HFF) has closed the $18 million sale of and arranged $12.5 million in financing for Tower at Northwoods, a 180,000 s/f, class A office asset.

HFF marketed the property on behalf of the seller, LNR Partners, Inc. Additionally, HFF worked on behalf of the new owner to secure the 10-year, fixed-rate acquisition loan through East Boston Savings Bank.

Tower at Northwoods - Danvers, MA

Tower at Northwoods is located at 222 Rosewood Dr., less than one mile from both I-95 and Rte. 1. This location is 20 minutes north of Boston and proximate to many of Boston’s premier suburban communities along I-95 and the North Shore. Completed in 1990, the 11-story office building is 90.8% leased to tenants, including Copyright Clearance, MetLife and Royal Bank of Canada. The institutional-quality asset offers an on-site café, fitness center and 24/7 security.

The HFF investment sales team representing the seller was led by managing director Chris Phaneuf and senior real estate analyst Patrick McAneny. LNR Partners, Inc. was represented by Dustin Smith, vice president of U.S. Asset Services – Real Estate Asset Management.

HFF’s debt placement team representing the borrower was led by director Brett Paulsrud.

HFF operates out of 24 offices and is a leading provider of commercial real estate and capital markets services to the global commercial real estate industry.

HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing.