Fortis Property Group closes $1b refinancing for One Lincoln in Boston

Fortis Property Group announced the closing of a $1 billion-plus refinancing of One Lincoln in Boston. The refinancing proceeds will be used to repay existing debt and provide more than $200 million in capital upgrades geared toward wellness and lifestyle amenities, as well as future leasing costs.

In addition to the loan closing, Fortis has signed an office lease with HarbourVest Partners, a leading global private markets firm, establishing them as the new anchor tenant at the building. The Boston-based private equity firm has signed a long-term lease for more than 250,000 square feet of office space across 11 floors in the building.

HarbourVest will move its Boston headquarters and all Boston-based employees to One Lincoln. As part of the lease agreement, HarbourVest will replace State Street Corp as the building's namesake. The firm expects to move into the building in 2025. HarbourVest has more than 650 employees in Boston and more than 1,000 employees in 12 global