Fortis Property Group Closes $1B Refi, Secures New Anchor for One Lincoln in Boston

Fortis Property Group has closed $1 billion-plus refinancing of One Lincoln, a one million-square-foot Class A office tower in the Financial District of Boston, MA. The refinancing proceeds will be used to repay existing debt and provide more than $200 million in capital upgrades geared toward wellness and lifestyle amenities, as well as future leasing costs.

In addition to the loan closing, Fortis has signed an office lease with HarbourVest Partners that establishes it as the building’s new anchor tenant and namesake. The Boston-based private equity firm has signed a long-term lease for over 250,000 square feet of office space spread across 11 floors in the building.

The 2003-constructed tower will be undergoing a complete renovation of the lobby, food services and amenity center. Reconfigured floorplates will be complemented by an artisanal market, biergarten, and al fresco seating and dining spaces. Health and wellness spaces include a rooftop tennis and basketball courts, boxing ring, fitness center, and 1/8-mile outdoor walking trail. The building will also feature flexible spaces with stadium seating that can be used for exhibitions, speaking events or private gatherings.