$27M refinancing secured for Boston-area office building

BOSTON, Sept. 26, 2023 –  JLL Capital Markets announced today that it has arranged A $27 million refinancing for One Heritage Drive, a 172,849-square-foot office building in Quincy, Massachusetts.

JLL worked on behalf of the borrower, FoxRock Properties, to secure the five-year, fixed-rate loan through Metro Credit Union.

One Heritage Drive will be renovated in 2023 and is fully leased to Granite Telecommunications and will serve as their new company headquarters. The five-story building is positioned across the street from the North Quincy MBTA station providing service into Downtown Boston and beyond. Additionally, One Heritage Drive is close to Interstate 93 providing access to the entire Greater Boston metropolitan area as well as Logan Airport just a short drive to the north.

The JLL Capital Markets team representing the borrower was led by Senior Director Jonathan Schneider.

“Strong in-place metrics, along with the borrower’s exceptional reputation, resulted in a competitive marketing process with multiple lenders offering attractive financing options. The Metro Credit Union team executed a seamless closing process,” Schneider said.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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