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Posted: February 24, 2014
Capital One provides $96.3 million term loan to Jamestown Premier
Capital One Bank has provided a $96.3 million, seven-year term loan to Jamestown Premier 245 First, LLC. The loan will be used to finance the acquisition of Riverview, a commercial real estate property. Jamestown is a real estate investment and management company headquartered in Atlanta, Georgia.
The Riverview property consists of two buildings located at 245 First St. in Kendall Sq. with a total of 300,000 s/f: an 18-story office tower that sits atop a 344-space parking garage; and Cambridge Science Center, a six-story life science facility that was converted in 2004. Upper floors of the property provide views of Boston's Beacon Hill and the Charles River.
"Jamestown has become a close and valued client of ours, and we are pleased to help them acquire this premier property," said Ben Stacks, Greater New York market manager, Capital One Bank Commercial Real Estate. "We look forward to supporting their future financing needs."
"Capital One Bank continues to present us with strong financing solutions that are tailored to our needs," said Shak Presswala, head of Capital Markets at Jamestown. "Their dedicated commercial real estate team provides exemplary service that will help us achieve our long-term goals."
Capital One Bank's Commercial Real Estate Group provides financing in markets including New York; New Jersey; Massachusetts; Pennsylvania; Washington, D.C.; Virginia; Maryland; Texas; and Louisiana. The group offers a comprehensive array of solutions for property owners and developers, including commercial lending, financing, underwriting, and treasury management.
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