DivcoWest has secured a $93.1 million whole loan for the acquisition of 399 Boylston, an approximately 245,000 square-foot, 13-story, class A office and retail building prominently located in Boston’s Back Bay market.
CIM Group, through its CIM Real Estate Debt Solutions business, on behalf of a CIM-managed fund, secured the loan.
399 Boylston features an architecturally distinctive design with a desirable location, appealing to both office and retail businesses, on the first block of Boylston Street steps from Boston Public Garden and Newbury Street. The property is a mix of traditional and modern building elements with a red brick façade on the lower floors and reflective glass with bay windows on the upper levels, providing office tenants with sweeping area views. With approximately 200 feet of street frontage, 399 Boylston’s retail space is leased to a variety of businesses serving the neighborhood.
399 Boylston was extensively renovated over the past d
