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| Jennifer Keller |
BOSTON, MA, January 24, 2020 – JLL Capital Markets announced today that it has arranged an $870 million construction loan for the first phase of the South Station redevelopment, which comprises a 1.2 million-square-foot, 51-story mixed-use tower that will be built at Boston’s South Station transportation hub.
The South Station redevelopment is a world-class, 1.9 million-square-foot mixed-use project that will transform Boston’s transportation hub and skyline.
JLL worked on behalf of a joint venture between affiliates of Hines, APG Groep NV and Dune Real Estate Partners LP, to secure the loan with The Children’s Investment Fund.
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| Riaz Cassum |
Anticipated for delivery in 2024, the first phase of the project will offer approximately 660,000 rentable square feet of Class AA office and retail space as well as approximately 166 residential condominium units and more than 500 parking spaces.
The faceted oval glass tower was designed by Pelli Clark Pelli Architects and will be constructed to align with the historic South Station façade and meet LEED® Gold standards.
The office component will feature 26,000-square-foot, primarily column-free floor plates with 13’ floor-to-ceiling heights and unobstructed views of downtown Boston and Boston Harbor.
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South Station redevelopment, which comprises a 1.2 million-square-foot, 51-story mixed-use tower that will be built at Boston’s South Station transportation hub.
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The residential component of the tower will offer studio, one-, two- and three-bedroom units along with penthouse duplex units. The residences will feature the finest finishes and will be accessed through a private lobby with doorman/door staff.
The tower is positioned directly above South Station, Boston’s transportation hub, which serves more than 130,000 commuters daily and offers direct access to multiple modes of transportation like trains, buses and the subway.
The JLL Capital Markets team representing the borrower was led by Senior Managing Director Riaz Cassum and Senior Director Jennifer Keller.
For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.
Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc. a licensed real estate broker.
About Dune Real Estate Partners LP:
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| Daniel M. Neidich |
Dune manages the Dune Real Estate Funds, which were launched by Mr. Daniel M. Neidich in 2005 and have raised $3.6 billion of equity capital.
Contact:
Kristen Murphy
JLL Senior Manager
Public Relations
Phone: +1 617 848 1572
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