AIG Lends $113M on Hudson Square Office Building

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Chicago-based Callahan Capital Properties has taken out a $133 million loan from the insurance arm of AIG, public records indicate.

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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.

330 Hudson Street
330 Hudson Street

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.