Boston Seaport Development Lands $480M
- Jan 08, 2018
Cottonwood Management has landed a $480 million construction loan to develop 3.5 acres in Boston Seaport Square. Natixis arranged the loan that will finance a 819,000-square-foot mixed-use space offering a 717-unit residential community, two condominium towers, one luxury tower and a 125,000-square-foot two-story retail base podium.
“We’re thrilled to be financing Boston’s Seaport Square project, which illustrates our ability to provide borrowers tremendous capital markets access and unique, tailored deal structures and financing solutions,” said Greg Murphy, head of Real Estate Finance Americas, Natixis, in prepared remarks. “We are encouraged by what this deal says about the quality of our platform, and believe the Seaport has found a great partner in Cottonwood Management.”
The property’s residential units will feature quartz countertops, gas fireplaces, washer/dryers, porcelain tile, stainless steel appliances, floor-to-ceiling windows and custom Italian cabinetry. Residents will have access to amenities such as:
- wine room
- outdoor and indoor swimming pools
- spa treatment room
- half basketball court
- innovation center
- children’s playroom
- pet spa
- state-of-the-art lobbies
The Seaport District offers close proximity to the MBTA Silver Line’s subway station at World Trade Center, which also connects to South Station or Logan International Airport.
In September, Natixis arranged a $125 million senior loan for a mixed-use project in Baltimore, on behalf of Madison Marquette.
Rendering courtesy of Nitixis