AIG Lends $113M on Hudson Square Office Building
Scott Klocksin July 22, 2014, 3:47 p.m.
Chicago-based Callahan Capital Properties has taken out a $133 million loan from the insurance arm of AIG, public records indicate.
The loan is backed by office building 330 Hudson Street, in the Hudson Square area. Callahan, along with partner Ivanhoé Cambridge, a Canadian pension and insurance fund manager, announced last month that it had acquired a 49 percent interest in the property for approximately $150 million, as Commercial Observer reported at the time.
The 16-story, Class-A office building is the fifth property the two firms have invested in jointly. Boston-based Beacon Capital Partners owns the majority stake in the 467,000 square foot building.
An eight-story addition to the original eight–story brick and stone building, which dates to 1910, was recently added, following a $70.2 million loan from Bank of America, as reported today by Commercial Real Estate Direct.
Representatives of Callahan and AIG did not immediately return requests for comment.