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JV Secures Construction Financing for Boston-Area MXU

A joint venture between Dinosaur Capital Partners and Oaktree Development secured $30.1 million in construction financing for 28 Austin Street Apartments, a mixed-use development in Newtown, MA, west of Boston. The project will consist of 68 luxury apartment homes, of which 23 will be affordable, 5,000 square feet of ground floor retail, a new public plaza, and a reconstructed 124-space municipal parking lot.

The project, which is scheduled for completion in Spring 2019, will be built above the city’s Austin Street Municipal Parking Lot.

The sustainable, transit-oriented property will also feature a private 90-car underground garage, and a common roof terrace and garden. It will be built with GreenStaxx modular building technology, and includes solar panels on the roof to power the property with a clean energy source.

HFF’s Frederic Wittmann and Greg LaBine worked on behalf of the borrower to secure funding through Eastern Bank.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as 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, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Financing
  • ◦Development
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