DivcoWest joins MSD Partners-led $1 billion refinancing of Boston’s iconic One Lincoln tower

DivcoWest announced it has joined in the refinancing of One Lincoln tower by providing a floating-rate senior mezzanine loan to Fortis Property Group as part of the $1 billion refinancing of the 36-story tower in the heart of Boston, which is being led by MSD Partners.

Built in 2003 and formerly known as State Street Financial Center, One Lincoln has more than 1 million square feet of class A commercial office space, as well as parking for 900 vehicles.

Proceeds from the refinancing will be used by the owner to retire existing debt as well as to make more than $200 million in major capital improvements to the building and tenant suites. This includes upgrading the lobby and food offerings, reconfiguring floorplates, and adding wellness and lifestyle amenities designed to future-proof the building as a major corporate location. Among the planned improvements are an artisanal food market with patio dining and a beer garden, a wellness deck with a rooftop tennis/basketbal