JLL arranges $870M construction loan for Southern facility redevelopment

JLL arranges $870M construction loan for Southern facility redevelopment

BOSTON , Jan. 24, 2020 /PRNewswire/ — JLL Capital Markets announced today that it has arranged an $870 million construction loan for the very first phase of this Southern facility redevelopment, which comprises a 1.2 million-square-foot, 51-story mixed-use tower which is built at Boston’s South Station transport hub. The Southern facility redevelopment is a global world- >Boston’s transportation hub and skyline.

JLL labored on behalf of the jv between affiliates of Hines, APG Groep NV and Dune Real Estate Partners LP, to secure the mortgage because of the kid’s Investment Fund.

Anticipated for delivery in 2024, the initial stage regarding the task will offer you roughly 660,000 rentable square feet of course AA workplace and space that is retail well as more or less 166 residential condominium units and much more than 500 parking areas. The faceted oval cup tower ended up being created by Pelli Clark Pelli Architects and will also be built to align utilizing the historic Southern facility facade and satisfy LEED ® silver standards.

Any office component will feature 26,000-square-foot, primarily column-free floor dishes with 13′ floor-to-ceiling levels and unobstructed views of downtown Boston and Boston Harbor. The domestic part of the tower will offer you studio, one-, two- and three-bedroom devices along side penthouse duplex devices. The residences will feature the best finishes and will also be accessed through a personal lobby with doorman/door staff. Renters and residents is going to be given market-leading amenities such as for example a metropolitan sky park with back yard; an office sky lobby and domestic sky lobby; seminar center; health club; landscaped terrace with outside pool and cooking and entertaining room for resident usage as well as a restaurant that is on-site.

Situated near commercial establishments in the nexus between Boston’s Central company District as well as the rap >Boston’s transport hub, which acts a lot more than 130,000 commuters daily and offers access that is direct numerous modes of transport like trains, buses therefore the subway.

The JLL Capital Markets team representing the debtor had been led by Senior Managing Director Riaz Cassum and Senior Director Jennifer Keller .

“Developments of the quality and magnitude arise infrequently in a market that is mature as Boston ,” Cassum stated. “The tower at Southern Station has an irreplaceable, transit-oriented location above certainly one of our city’s busiest transportation hubs and certainly will provide best-in-class workplace and domestic space for discerning renters and residents.”

JLL Capital Markets is a full-service provider that is global of solutions for genuine property investors and occupiers. The company’s in-depth market that is local international investor knowledge provides the best-in-class solutions for clients — whether investment advisory, debt positioning, equity positioning or even a recapitalization. The company has a lot more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 nations.

Deal secured by Holl >July 1, 2019 . Co-brokerage solutions given by Jones Lang LaSalle Americas, Inc. an authorized genuine estate broker.

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