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Boston & New England  + Boston  + Office  | 

BXP Closes on $465M Financing for Hub on Causeway

BXP, Inc. and joint venture partner Delaware North have closed on a $465-million, 5.5-year, non-recourse mortgage loan secured by the podium and office tower at The Hub on Causeway, a mixed-use development at 100 Causeway St. in Boston. The financing was led by Wells Fargo Bank, Morgan Stanley Bank and Bank of America.

The loan is scheduled to mature on April 9, 2031, and bears interest at a fixed rate of approximately 5.733% per annum. Proceeds were used to repay two existing loans on The Hub on Causeway having an aggregate outstanding principal balance of approximately $490 million.

This transaction represents BXP’s first “Green Bond” mortgage financing. “We are pleased to complete this financing, which not only enhances the strength and flexibility of our balance sheet, but also demonstrates our access to attractively priced capital in the secured mortgage market,” said Mike LaBelle, EVP and CFO, BXP.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
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