58
THE ANNUAL REVIEW
THE REAL REPORTER ®
A GREAT LEAP FORWARD continued from page 57
Managing Director Riaz Cassum says tends to feed off itself. “We get quite a bit of business from that,” he says, an outlook exemplified by the $2.0 billion in debt volume processed by HFF in 2012 compared to $1.6 billion for investment sales and other strategies such as recapitalizations. The debt—and equity—action was not limited to the Seaport, with HFF helping buyer and borrowers— and often both— throughout Boston and beyond. In the Back Bay, as detailed on page four, HFF helped the seller of 28 Newbury St. yield an incredible $1,400 per sf-plus for the three-story retail building that is leased to Banana Republic, and was also broker for 441 Stuart St., a 163,775-sf office building acquired for $40 million by Synergy Investment. The firm also advised 711 ATLANTIC AVE., BOSTON MA the First Church of Christ, Scientist in its $59 mil- properties, as first detailed by therealreporter.com Group that continued to represent major owners lion deal for control of 177 Huntington Ave., the in February. The Beacon listing was handled by and buildings was CBRE/New England. Early on, 202,000-sf office tower at the Christian Science Mark Campbell, Riaz Cassum, John Fowler and the firm helped Millennium Partners trade 179 Plaza taken on by Beacon Capital Partners. HFF Benjamin Sayles, with Ron Albro of Beacon acting Lincoln St. in Boston to Invesco for $75 million brokered that sale for what Benedict concurred for the buyer in-house. Other members and represented StructureTone in its was a different animal from given a ground-lease of the Boston HFF office who worked on harvesting of 711 Atlantic Ave., a sixwas part of the equation and for other reasons as various assignments in 2012 include story, 85,000-sf office building across well. “It was great because it is such an iconic Dana Brome, Anthony Cutone, Bob from South Station acquired by property having been built by I.M. Pei and being Herron, James Koury, Greg LaBine, Meritage Properties for $26 million. The in such an incredible location, and the response Lauren O’Neil and Fred Wittmann. CBRE/NE team also was agent for a vast we got was tremendous,” Benedict relays, adding portfolio involving dozens of Citizens HFF structured a $56.1 million that “Beacon did a tremendous job in execution loan from Cornerstone Real Estate Bank branches that yielded $90 million and I think they are going to do really well there.” Advisers to finance Beacon’s invest- GINA BARROSO in a transaction overseen by Christopher The other half of the amulet is playing out now as ment, and as mentioned, the mortAngelone and William Moylan, two HFF works with the church to complete the trans- gage banking firm had a major season retail experts who head up the Capital fer of two land sites on the plaza that can yield in that regard, also arranging first Markets Group. “We were pleased with another 800,000 sf. Benedict declined comment mortgage financing for nearby 116 the way it went,” Angelone says of on a bid by Carpenter & Company to take on the Huntington Ave. and on Clarion’s 2012, with the firm also welcoming the arrival of Simon J. Butler and Biria St. acquisition of 535 and 545 Boylston John to oversee the multifamily busiSt. Besides financing its 441 Stuart St. ness, a coup that led to more than $700 deal, HFF found money for Synergy to million in apartment transactions. buy a 376-space garage at the ROBERT TITO SR., InterContinental Hotel and for the NAI/Hunneman Commercial Corp. owners of the 698-space garage at had its investment sales professionals Dock Square across from Faneuil Hall. chasing all sorts of prospects in 2012, Few observers going into 2012 utilizing an approach where select would have anticipated HFF garnering groups pursue opportunities on their so many major sales listings, and while own while assisting other teams as Benedict says he believes it was not a needed for the benefit of the client. One record year for the operation, he ROBERT TITO JR. rather productive unit has been a quaracknowledges the result was “superitet of Scott Dragos, Douglas Jacoby, or” compared to a typical campaign. Mitchell Levey and Sean Ryan. In 2012, they tallied an eye-popping $113.7 mil“We were very busy the whole time, lion in volume completing 41 transacbut everybody here did their part so we able to get a lot accomplished,” he tions accounting for 3.4 million sf of says. “And we’re not slowing down a space. That figure was aided by a fourbit—we’ve got a very big pipeline that building portfolio encompassing 1.1 we are already working on.” million sf that went for $25 million on Another top-level Capital Markets DAVID N. ROSS continued on page 59 177 HUNTINGTON AVE., BOSTON MA