DivcoWest Joins MSD Partners-Led $1B Refinancing of One Lincoln Tower in Boston
DivcoWest has provided a floating rate, senior mezzanine loan to Fortis Property Group as part of the $1-billion refinancing of One Lincoln, a 36-story tower in Boston, MA. The refinancing effort is being led by MSD Partners.
Proceeds from the refinancing will be used by the owner to retire existing debt as well as to make more than $200 million in major capital improvements to the building and tenant suites. Planned additions include an artisanal food market with patio dining and beer garden; wellness deck with rooftop tennis/basketball court, walking trail and al fresco seating; and fitness center with boxing ring and workout equipment.
The financing will also support the borrower’s leasing campaign by providing funds for tenant improvements.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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