The RMR Group announced it facilitated a $1.0 billion five-year, interest-only fixed rate mortgage financing for a managed joint venture. The financing has a weighted-average interest rate of 5.5957%.
The loan is secured by Vertex Pharmaceuticals Incorporated’s 1.1 million square foot headquarters in the Boston Seaport district, located at 50 Northern Avenue and 11 Fan Pier Boulevard. The proceeds will primarily be used to repay existing debt.
This successful refinancing demonstrates RMR's expertise in managing complex, large-scale real estate transactions for its clients. It is a significant operational milestone that enhances the financial stability of a key managed asset.
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