Clarion Gets $296M in Financing for Office Portfolio with Local Asset
Clarion Partners has secured $296 million in financing for a 10-property, Class A office portfolio totaling 1.6 million square feet in San Francisco, Washington, D.C., Charlotte, Houston and Boston.
HFF worked on behalf of Clarion Partners to secure the portfolio loan through Bank of America.
The loan provided a combination of acquisition financing, forward financing and refinancing for a term of seven years, with a combination of fixed and floating-rate tranches providing optimum flexibility across a geographically diverse pool of core-quality office assets.
The properties in the portfolio are:
- 600 California Street in San Francisco
- Morrocroft Centre in Charlotte
- Westchase Park in Houston
- 1111 19th Street in Washington, D.C; and
- the Fort Point office portfolio in Boston’s Seaport District.
The Fort Point portfolio is comprised of: 33-41 Farnsworth Street, 34 Farnsworth Street, 44 Farnsworth Street, 332 Congress Street, 374 Congress Street and 263 Summer Street.
The HFF team representing Clarion Partners was led by senior managing director Bruce Ganong with regional support from senior managing directors Riaz Cassum and Sue Carras, and associate director Chris Gandy.