J
LL Capital Markets has arranged a $650 million refinancing package for One Congress, Boston's newest trophy office tower. The 43-story, 1,008,000-square-foot building was completed in 2023 and is fully pre-leased. Co-developers Carr Properties and National Real Estate Advisors secured the single-asset, single-borrower (SASB) loan led by Wells Fargo and Bank of America.

    Designed by Pelli Clarke & Partners, One Congress features column-free floor plates, panoramic views, and a robust amenity suite with a rooftop terrace, full-floor center, fitness facility, and dramatic lobby. "Securing SASB financing for office assets in today's market can be challenging," said Riaz Cassum, JLL Executive Managing Director. "One Congress exceeded expectations with its quality and reputation."

    Located on the 4.8-acre site of the former Government Center Garage, Bulfinch Crossing links several Boston neighborhoods. One Congress offers direct access to public transportation and is within walking distance to major train stations. The JLL team leading the transaction included Riaz Cassum, Coleman Benedict, Jim Meisel, Mike Shepard, CFA, and Hugh Doherty.

    The refinancing package was a significant achievement in the current market, with SASB lenders typically seeking top-quality assets and reputable borrowers. One Congress has redefined Boston's trophy office landscape, and JLL is honored to have played a role in this financing.