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$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
- ◦Financing
- ◦Development

