TCI Makes a Splash With $870M Construction Loan on Boston’s South facility

TCI Makes a Splash With $870M Construction Loan on Boston’s South facility

Children’s Investment Fund doled out the sum to finance the very first stage regarding the redevelopment of Boston’s Southern facility transportation hub

A partnership trio led by Hines this is certainly spearheading the huge redevelopment that is 1.9-million-square-foot of facility in Boston’s Financial District has gotten $870 million in construction funding from London-based The Children’s Investment Fund (TCI) to create the very first of three stages regarding the task.

Houston-based designer Hines, along side Dune Real Estate Partners and APG Groep NV (APG Asset Management), a pension that is netherlands-based supervisor, will utilize the financial obligation to create more or less 660,000 rentable square legs of workplace and retail space, 166 residential condominiums and much more than 500 parking areas included in stage one, in accordance with information released today by brokerage home JLL, that was accountable for sourcing and organizing the mortgage from TCI. Officials at TCI could maybe maybe maybe not straight away be reached.

A JLL Capital Markets team led by Riaz Cassum and Jennifer Keller arranged your debt funding with respect to the party that is borrowing.

When completed, Boston’s heavily trafficked downtown transportation hub could have been transformed as a 1.9-million-square-foot mixed-use development that includes a brand new, 1.2-million-square-foot, 51-story glass tower — created by Pelli Clarke Pelli Architects — over the top associated with the old place at 650 Atlantic Avenue, according to information from JLL. Leer más