Bostonia closed a $170 million in construction-to-permanent financing to fund the development of a 514,000 SF trophy office building for the U.S. Government in the National Capital Region. The office building is the fifth phase of development on an office campus that is planned to include a total 2.6 million square feet of office space for the U.S. Government.
Bostonia structured the transaction as a Credit Tenant Lease financing and issued notes to institutional investors in the private placement market. The structuring of the transaction accounted for 46 months of design and construction, annual lease termination rights, and other specialized terms that are unique to Federal government leases.
“We are proud to contribute to the development of a project that will play such an important role in our country’s national security,” said Anita P. Molino, Managing Partner and President of Bostonia Partners. “The successful execution of this transaction demonstrates that there is strong investor appetite for quality transactions, even during the economic and market uncertainty caused by the Covid-19 pandemic.”