BOSTON, MA – June 28, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces that it has secured financing for CityView at Longwood, a 289-unit apartment high-rise in Boston’s Longwood Medical Area.
Working on behalf of the borrower, a joint venture between Jefferson Apartment Group and LaSalle Investment Management, HFF placed the floating-rate acquisition loan with a Brookfield-sponsored real estate debt fund and ING Capital LLC.
CityView at Longwood is located at 75 St. Alphonsus Street in the Longwood Medical Area, one of the premier medical clusters in the world with 15.5 million square feet of dedicated medical research and treatment facilities, including three teaching hospitals affiliated with Harvard Medical School. With a Walk Score® of 93, the apartment community is just one block from the MBTA Green Line and within walking distance of the Orange Line providing direct access to downtown Boston. Additionally, the Fenway neighborhood with an abundance of dining, entertainment and night life options is less than one mile from CityView at Longwood. Originally built in the 1970’s, the 20-story tower offers studio, one-, two- and three-bedroom units that are currently 95% leased. Property amenities include a pool, fitness center, resident lounge, laundry room and two-story parking deck with 185 spaces. The borrower plans to implement a renovation program, substantially upgrading unit interiors, creating a new resident experience and significantly elevating the quality of resident amenities, and adding new amenities, which may include penthouse outdoor rooftop space.
The HFF debt placement team was led by senior managing directors Riaz Cassum and John Rose and senior director Jennifer Keller.