Updated Nov 18, 2025
Wells Fargo And Bank Of America Facilitate $650M Loan For One Congress Office Tower In Boston
1 Congress Street
$650,000,000
$650/SF
Building Size
1,000,000 SF
Asset Type
Office
Closing
May 17, 2025
About this deal
AI
One Congress, a new office tower located at 1 Congress Street in Boston, MA, features a total square footage of 1,000,000. The asset has recently secured refinancing totaling $650,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $650,000,000
- Lender: Wells Fargo & Bank of America
- Landlord: Oliver Carr - Carr Properties; Jeffrey Kanne - National Real Estate Advisors
- Broker: Riaz Cassum - JLL
The refinancing was primarily led by Wells Fargo and Bank of America, with Oliver Carr and Jeffrey Kanne representing their respective organizations in the transaction. Riaz Cassum served as the broker facilitating the deal.
On the Map
$650,000,000
$650/SF
Office
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Players
Boston Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.02%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93