Bain Capital to Relocate to the John Hancock Tower; Leases 208,000 sf for Boston Offices

BOSTON, May 11 /PRNewswire/ -- In one of the most significant lease transactions in the last several years, Normandy Real Estate Partners and Five Mile Capital Partners today announced that they have executed a lease for Bain Capital to relocate its Boston offices to the John Hancock Tower.  Bain Capital, one of the world's leading private investment firms, has signed a 15 year lease spanning at least seven contiguous floors of Boston's tallest office tower -- initially comprising 208,000 square feet, with the option to expand to up to 270,000 square feet prior to occupancy. Bain Capital anticipates occupying its new offices beginning in the fall of 2011.  The new lease will bring the total occupancy at the John Hancock Tower to approximately 95 percent.

"We are honored to welcome Bain Capital, one of Boston's most prominent and respected companies, to the first class roster of firms that call the John Hancock Tower home," said Jeffrey Gronning, Managing Principal, Normandy Real Estate Partners.  "We are currently investing significant capital and resources to renew the building's environment and amenities, which along with our high quality tenant base firmly establishes the John Hancock Tower as Boston's premier business address."

"We are excited to be moving our Boston offices to the John Hancock Tower," said Sean Doherty, a Managing Director at Bain Capital.  "The John Hancock Tower is an enduring symbol of Boston and represents our city's standing as one of America's leading business centers.  It's a terrific building, which will be a great platform for our business and its employees for the next 15 years."

Mark Roopenian, Vice President at Normandy, added, "We are thrilled that Bain Capital shares our vision for the building and we look forward to exceeding their expectations in the years to come.  This major lease commitment from Bain Capital brings us to nearly full occupancy, one more step in reaffirming the John Hancock Tower's standing as 'The Height of Business in the Heart of Boston.'"

Cushman & Wakefield represented both the tenant and landlord in this transaction. Gil Dailey, Dave Martel and Rob Griffin represented Bain Capital and Bill Anderson represented the landlord. "It has been an incredible experience to play a role, along with numerous others, in bringing together Bain Capital and Boston's iconic building, the John Hancock Tower," said Gilbert B. Dailey, Executive Director, Cushman & Wakefield of Massachusetts.

The John Hancock Tower is a Class-A trophy tower located at 200 Clarendon Street in Boston's Back Bay District.  It is comprised of almost 1.8 million sf and at 62-stories is the tallest building in New England.  The iconic tower offers panoramic views of the Back Bay, Charles River, Cambridge, Public Gardens and Financial District, while its location in the center of Boston's Back Bay allows convenient access to all of the neighborhood's amenities.

Today's announcement follows other significant news about the John Hancock Tower, including the award of Leadership in Energy and Environmental Design (LEED) Gold Existing Building certification, which makes it the largest "green" building in New England.

About Normandy Real Estate Partners

Normandy Real Estate Partners is a vertically-integrated real estate private equity fund manager headquartered in Morristown, NJ with offices in Boston, New York City, and Washington DC.  Normandy currently manages a series of discretionary real estate funds totaling approximately $1.0 billion of equity commitments.  Normandy's existing portfolio includes 14 million square feet of commercial assets, four hotels and numerous land development sites.  Normandy targets value added real estate investments primarily in the Northeast and Mid-Atlantic markets of Boston, Metro New York City, and Washington, D.C. where opportunities exist to enhance value through creative repositioning, financial restructuring, intensive management, and capital improvements.  For more information visit www.normandyrealty.com.

About Five Mile Capital Partners

Five Mile Capital Partners LLC is an alternative investment and asset management company established in 2003 and has invested over $4 billion since inception.  The Firm specializes in investment opportunities primarily in commercial and residential real estate and also invests in debt products, asset-based lending, structured finance and financial services private equity.  Five Mile's Principals have significant experience, knowledge and skills relevant to the financial services industry including debt restructures, foreclosures, bankruptcy litigation and asset sales.  Five Mile believes the cyclical and dynamic nature of the sector continually provides a broad opportunity for investments across the capital structure.  Five Mile Capital's headquarters are located in Stamford, CT with an office in New York City and has approximately $2 billion in assets under management.

About Bain Capital

Established in 1984, Bain Capital is one of the world's leading private investment firms, with approximately $65 billion in assets under management.  Bain Capital's affiliated advisors make private equity, public equity, leveraged debt asset, venture capital, and absolute return investments across multiple sectors, industries, and asset classes. Since inception, Bain Capital's competitive advantage has been grounded in a people-intensive, value-added investment approach that has enabled the firm to deliver industry-leading returns for investors.

SOURCE Normandy Real Estate Partners