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Boston & New England  + Massachusetts  + Finance  | 

$341M Construction Financing, JV Equity Secured for Boston’s St. Regis Residences

Cronin Development secured $341 million in construction financing and joint venture equity for the development of The St. Regis Residences, Boston. The iconic, luxury waterfront condominium tower is located at 150 Seaport Blvd. on one of the last remaining developable waterfront parcels in downtown Boston.

With 114 units spread over 22 stories, the property features a twisting and angular contemporary design evoking billowing sails in a nod to its Seaport District nautical location. The developer expects to deliver units by 2020.

HFF advised the developer, Cronin Development, in securing $306.5 million in construction financing from JPMorgan Chase Bank, N.A. HFF also advised Cronin in structuring a joint venture equity partnership for $34.5 million with a private equity partner, the JCM Opportunity Fund I, LLC, a subsidiary holding of Joyal Capital Management.

HFF’s debt and equity advisory team representing the borrower included Riaz Cassum, Brett Paulsrud and Andrew Gray.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Financing
  • ◦Development
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