Updated Sep 30, 2025
BXP And Delaware North Secure $465 Million Refinancing Loan For The Hub On Causeway In Boston
100 Causeway Street
$465,000,000
$310/SF
Building Size
1,500,000 SF
Asset Type
Mixed-use
Closing
Sep 29, 2025
About this deal
AI
The asset involved in this transaction is a mixed-use property located at 100 Causeway Street in Boston, MA, with a square footage of 1,500,000. The loan amount secured for this property is $465,000,000, classified as a refinance loan.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $465,000,000
- Lender: Wells Fargo, Bank of America & Morgan Stanley
- Landlord: Owen D. Thomas - BXP & Jeremy Jacobs - Delaware North
- Loan Type: Refinance
This refinancing deal, facilitated by BXP and Delaware North, aims to repay $490 million in existing debt while adding $35 million in equity. The involvement of Wells Fargo, Bank of America, and Morgan Stanley as lenders highlights the financial backing behind this significant transaction.
Players
Boston Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93