John Hancock Tower
100 & 200 Clarendon Street, Boston, MA
- 1,750,000 rentable sf
The 60-story skyscraper, designed by Henry N. Cobb of the firm I. M. Pei & Partners, is the tallest building in New England and located in the Back Bay neighborhood of Boston. Normandy and a joint venture partner acquired the equity interests in the John Hancock Tower and Garage through a mezzanine loan foreclosure at a significant discount to replacement cost. Upon taking control of the iconic tower and neighboring parking garage, Normandy commenced a $25 million base building capital improvement plan to improve the amenities through relocation of the food service from the basement to the ground floor, the creation of in-building parking, and a refurbishment of the lobby. With renovations underway, Normandy completed a long-term lease with Bain Capital for floors 36-43 and stabilizing the property at 94% occupancy. Having completed the business plan significantly ahead of schedule, Normandy sold the property to a public REIT.