Children’s Investment Fund doled out of the sum to finance the very first stage associated with the redevelopment of Boston’s Southern Station transportation hub
A partnership trio led by Hines this is certainly spearheading the huge redevelopment that is 1.9-million-square-foot of Station in Boston’s Financial District has gotten $870 million in construction funding from London-based The Children’s Investment Fund (TCI) to construct the initial of three stages regarding the task.
Houston-based designer Hines, along side Dune Real Estate Partners and APG Groep NV (APG Asset Management), A netherlands-based pension fund manager, will utilize the financial obligation to create more or less 660,000 rentable square foot of workplace and retail space, 166 residential condominiums and much more than 500 parking areas included in stage one, in accordance with information released today by brokerage household JLL, that has been accountable for sourcing and organizing the mortgage from TCI. Officials at TCI could perhaps perhaps not be reached immediately.
A JLL Capital Markets group led by Riaz Cassum and Jennifer Keller arranged your debt funding with respect to the borrowing party.
When completed, Boston’s heavily trafficked downtown transit hub could have been changed in to a 1.9-million-square-foot mixed-use development that includes a unique, 1.2-million-square-foot, 51-story glass tower — created by Pelli Clarke Pelli Architects — over the top for the old place at 650 Atlantic Avenue, according to information from JLL. Read more