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Winthrop Center locks in $575M refinancing for downtown Boston office
The refinancing covers the office portion of Winthrop Center, where at least 80% of space is leased and energy technology firm Schneider Electric added a 75,000 SF lease last November.
Millennium Partners has secured a $575M securitized loan refinancing for the office portion of Winthrop Center in Boston's Financial District, according to Bisnow.
The financing was provided by Morgan Stanley and Barclays, part of an $856M financing package that JLL worked on. Winthrop Center is a 691-foot mixed-use building with 824,000 square feet of office space and 317 condominium units.
Bisnow/Taylor Driscoll reports the owner has leased at least 80% of the building to tenants including Deloitte, McKinsey, and M&T Bank. It also notes Schneider Electric signed a 75,000 SF lease at the property in November, tripling the size of its North American headquarters.
The article adds that the office refinancing comes after Millennium Partners earlier this month secured a 20-year, $281M C-PACE loan for the residential portion of Winthrop Center. The tower began construction in 2018 and was completed in 2023.