FoxRock Properties Secures $27M Financing for Fully-leased Office in Quincy, MA

JLL Capital Markets announced in early October that it has arranged a $27 million refinancing for One Heritage Drive, a 172,849-square-foot office building in Quincy, Massachusetts. 

Who is behind the advance: The five-year, fixed-rate loan was secured through Metro Credit Union on behalf of the borrower, FoxRock Properties.

The tenant on record: One Heritage Drive is fully leased to Granite Telecommunications, which will use the building as its new company headquarters. The five-story building is located across the street from the North Quincy MBTA station, providing easy access to transportation services heading into Downtown Boston and beyond. It is also close to Interstate 93, ensuring accessibility to the broader Greater Boston metropolitan area and Logan Airport.

The players in this operation: JLL Capital Markets Senior Director Jonathan Schneider led the team representing the borrower in the financing transaction. Schneider highlighted the competitive marketing process that ensued, thanks to the building's strong existing metrics and FoxRock's esteemed reputation. Multiple lenders participated, offering attractive financing options. The Metro Credit Union team orchestrated a seamless closing process.

JLL Capital Markets is a leading global provider of capital solutions for real estate investors and occupiers. The firm has over 3,000 Capital Markets specialists globally, operating from offices in nearly 50 countries.