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Boston & New England  + Boston  + Finance  |  March 29, 2022
JLL has arranged $543 million in financing for the $596.6-million 10 World Trade project in Boston.
Lisa McDuffie
By: Lisa McDuffie

JLL Secures $543M in Financing for 10 World Trade Project in Boston’s Seaport

JLL has arranged $543 million in financing for the $596.6-million 10 World Trade project, a speculative development that will offer 555,250 square feet of life sciences, office and retail space in Boston’s Seaport District.

A JLL team of Anthony Cutone and Andrew Gray worked on behalf of the borrower/developer team, led by Boston Global Investors, to secure a $382.5 million construction loan through a life insurance company lender. JLL also arranged approximately $160 million in joint venture equity from PGIM Real Estate and Wheelock Street Capital for the development.

10 World Trade began sitework in first quarter 2022 and is anticipated to be delivered in fourth quarter 2024. The 17-story tower will house life science and office uses on floors three through 17, while the ground floor will be home to a two-story public atrium with 45-foot domed ceiling, food hall and garden lounge.

JLL has been retained to lease the project.

Read More News Stories About: PGIM
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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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