New York Life Real Estate Investors and Northwestern Mutual have provided a $500m loan to The Chiofaro Company to refinance International Place, Boston Massachusetts’ largest office complex.
It opened in 1987 and today is home to 7,000 employees working for a tenant roster that includes Citigroup, UBS Securities, Wells Fargo, PayPal, Eaton Vance, Proskauer, Greenberg Traurig and Choate Hall & Stewart.
The Chiofaro Company is one of New England’s largest developers and operators of commercial properties.
New York Life Real Estate Investors has more than $37bn in assets under management and originated over $5bn in commercial mortgage loans, mezzanine and structured real estate debt last year. Northwestern Mutual is made up of Milwaukee, Wisconsin-based Northwestern Mutual Life Insurance Company and its subsidiaries.