Boston Area News

E-mail

Close Window E-mail This Page

Report: Hancock Tower Faces Foreclosure

Required fields are marked with an asterisk(*)

Recipient E-mail:*
- Your Name:*
- Your E-mail:*
Add a Message:
Send me a copy of this e-mail.

Type the characters in this picture:*

Click here to refresh with new letters

The information you provide will be used only to send the requested e-mail and will not be used to send any other e-mail communications. Read more in our Privacy Policy

Send E-mail

Print Share + Comments

Jan 23, 2009 10:49 am US/Eastern

Report: Hancock Tower Faces Foreclosure

BOSTON (WBZ) ―

Click to enlarge 1 of 1: William B. Plowman/Getty Images

Close

numSlides of totalImages

Broadway Partners, the owner of the John Hancock Tower, has defaulted on loans worth hundreds of millions of dollars and is facing foreclosure, according to the Boston Globe.

But who will take control of the Boston landmark is still unclear.

The two companies who hold a controlling portion of the Hancock's debt, Normandy Real Estate Partners and Five Mile Capital Partners, would have to buy out other Hancock lenders in order to gain ownership.

The Hancock is reportedly worth between $700 million and $900 million.

Broadway Partners paid $1.3 billion for it two years ago.