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Boston & New England  + Apartments  |  July 17, 2019
David Cohen
By: David Cohen

MRC Provides $314M Construction Loan for Back Bay Hotel Project

Madison Realty Capital (MRC) provided a $314 million construction for the development of the Raffles Boston Back Bay Hotel & Residences in Boston’s Back Bay. Cain International also provided joint venture equity for the project, which has a total price tag of more than $400 million.

Located at 40 Trinity Pl., the project is the first announced Raffles branded hotel and residential property in the United States. Upon completion, the 33-story mixed-use project will consist of 147 hotel rooms and 146 residential units. Completion is slated for 2021.

Riaz Cassum and Anthony Cutone of JLL arranged for both the equity and debt financing from Cain International and Madison Realty Capital. The developer of the project is Trinity Stuart LLC, a partnership between Boston-based Saunders Hotel Group and developer Jordan Warshaw of The Noannet Group.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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