Synergy Finalizes $20M Capital Improvements; $92.1M Refi of 101 Arch

Boston — Consistently ahead of the CRE curve, particularly when it comes to office products, Synergy has completed a $20 million repositioning and a $92.1M refinancing of 101 Arch Street, securing over 220,000 square feet of new and renewed leases since acquiring the property in March 2024. The aggressive capital deployment and leasing activity signal a strong vote of confidence in the recovery of the downtown office market.

“The continued momentum at 101 Arch Street and in Downtown Boston demonstrates the value of strategic investment in our assets,” said David Greaney, Founder & CEO of Synergy. “The strength of this market and the city’s continued commitment to revitalization give us great confidence in the long-term vitality of the downtown core.”

Major renovations at the property include a reimagined Arch Street entrance experience and lobby, which serve as the main welcoming point for the building and emphasize its prominent Boston address. Synergy has also introduced newly constructed conferencing and training facilities in addition to a centrally located full-service fitness center, available for all tenants of 101 Arch. The luxurious suite of amenities, coupled with the hospitality-centric mindset at Synergy, further enhances opportunities for collaboration and the tenant experience.

In concert with the repositioning, JLL advised Synergy in securing a $92.1 million mortgage loan for the refinancing of the property.

“This financing represents one of the first multi-tenant office tower debt opportunities in Boston to successfully refinance since the pandemic, underscoring renewed lender confidence in Downtown Boston’s office recovery and in 101 Arch Street’s repositioning and leasing momentum,” said Tom Sullivan, Senior Managing Director at JLL.

The 21-story, 411,195-square-foot office tower is situated at the intersection of Arch and Summer Street in Downtown Boston, and a prime location atop the Downtown Crossing MBTA T station.

Synergy recently welcomed a wave of new and returning tenants to the Class A office tower, confirming tenants across technology, legal, financial services, and retail sectors. New arrivals include Folia Health, Shift Technology, Harley Ellis Devereaux (HED) Architects, Highland Strategy, Jobber Software, and Groundcover. The stable of existing tenants, including Rockland Trust, Commonwealth Automobile Reinsurers (CAR), Klein Hornig LLP, Dinsmore & Shohl, Chacarero, global retail brand Primark, and White and Williams, have renewed their commitments to the building on a long-term basis.

The Downtown Boston Alliance, the nonprofit organization dedicated to enhancing Downtown Boston, has also renewed at 101 Arch Street.

Constructed in 1989, 101 Arch Street previously underwent a comprehensive renovation that incorporated elements of its historic charm while modernizing its functionality. Today, 101 Arch boasts sustainability certifications, including LEED Gold certification, WiredScore Gold certification, and Energy Star certification, demonstrating the commitment to environmental responsibility and energy efficiency.

Thomas Sullivan

David Greaney