Capmark Finance Inc. said it provided $27.5 million in financing for the purchase and repositioning of HarborSouth Tower, a 10-story office building in Quincy.
Capmark, a real estate financial company with headquarters in Pennsylvania, said the borrower is a joint venture between Griffith Properties LLC, a Boston-based real estate firm, and a client of Urdang Capital Management, a Pennsylvania firm that provides real estate investment management services to institutional investors.
Located at 100 Hancock St., HarborSouth Tower was occupied for the last 20 years by Blue Cross Blue Shield of Massachusetts, which is vacating the building at the end of September, Capmark said.
Planned renovations include upgrades to the building's facade and lobby as well as the addition of a garage, new cafe, and fitness center, Capmark said.
(By Chris Reidy, Globe staff)