 |
10 World Trade is located
in the heart of Boston’s Seaport District
and across from the city’s largest convention center |
BOSTON,
MA, Mar. 29, 2022 – JLL Capital Markets has
arranged $543 million in financing for the $596.6 million 10 World Trade
project, a speculative development that will offer 555,250 square feet of life
sciences, office and retail space in the heart of Boston’s Seaport District.
 |
Molly Heath
|
JLL
worked on behalf of the borrower/developer team, led by Boston Global
Investors, to secure a $382.5 million construction loan through a life
insurance company lender.
JLL
also arranged approx. $160 million in joint venture equity from PGIM Real
Estate (“PGIM”) and Wheelock Street Capital (“WSC”) for the development.
 |
| Anthony Cutone |
The
JLL Capital Markets team representing the borrower was led by Managing Director
Anthony Cutone and Senior Director Andrew Gray.
JLL’s
Brokerage team of Managing Director Barry Hynes, Senior Managing
Director Molly Heath, Managing Director Ben Heller, Managing
Director Patrick Nugent and Senior Managing Director Don Domoretsky has
been retained to lease the project.
“Over
the past decade, Boston’s Seaport District has emerged as city’s premier
commercial and residential neighborhood,” Cutone said.
“10
World Trade is one of the last remaining development sites and BGI’s vision for
the project is truly outstanding.”
 |
Andrew Gray
|
10
World Trade began sitework in first quarter 2022 and is anticipated to be
delivered in fourth quarter 2024.
Designed
by the award-winning architects at Sasaki, the iconic tower will incorporate
flexibility, well being, sustainability and technology, which are the new
benchmarks of development in a post-pandemic world.
The
“smart building ready” design allows the building to quickly adapt to a rapidly
changing global environment and synthesize data to address health and safety issues
within the building at all times.
The
17-story tower will house life science and office uses on floors 3-17, while
the ground floor will be home to a dramatic two-story public atrium with a
45-foot domed ceiling, a food hall, and a garden lounge surrounded by an
operable glass façade.
 |
| Barry Hynes |
10
World Trade will offer a best-in-class amenity package throughout the tower,
including a 300-meter indoor jogging track on the top floor providing
360-degree views of the Boston skyline within a 15,000-square-foot fitness
center.
Located
in the heart of Boston’s Seaport District and across from the city’s largest
convention center, 10 World Trade has direct frontage along Congress St. and
World Trade Center Ave. and is within walking distance of numerous local and national
retailers, restaurants, hotels, luxury residential and entertainment offerings.
The
transit-oriented tower also has direct access to the Massachusetts Turnpike
(I-90), which provides a direct connection to Boston’s Logan International
Airport as well as Interstate 93.
 |
| Ben Heller |
In
addition, the project is served by the MBTA Silver Line providing a quick ride
into Boston’s Financial District, South Station and Logan Airport.
JLL
Capital Markets is a full-service global provider of capital solutions for real
estate investors and occupiers.
The firm's in-depth local market and
global investor knowledge delivers the best-in-class solutions for clients —
whether investment sales and advisory, debt advisory, equity advisory or a
recapitalization.
The firm has more than 3,000 Capital Markets specialists
worldwide with offices in nearly 50 countries.
 |
| Patrick Nugent |
For
more news, videos and research resources on JLL, please visit our newsroom.
About
Boston Global Investors
Boston
Global Investors (BGI) is a leading real estate development and consulting firm
headquartered in Boston, Massachusetts.
Led by John B. Hynes III and a
team of experienced real estate professionals, BGI has over 30 years of
experience developing commercial, residential, and mixed-use projects, from
landmark towers to city-scale development.
For more information, please
visit: bginvestors.com.
 |
| Don Domoretsky |
About
JLL
JLL
(NYSE: JLL) is a leading professional services firm that specializes in real
estate and investment management.
JLL shapes the future of real estate for a
better world by using the most advanced technology to create rewarding
opportunities, amazing spaces and sustainable real estate solutions for our
clients, our people and our communities.
JLL is a Fortune 500 company with
annual revenue of $19.4 billion in 2021, operations in over 80 countries and a
global workforce more than 98,000 as of December 31, 2021.
For further
information, please visit jll.com.
Contact:
Kristen
Murphy
JLL Director
Public Relations
Phone: +1
617 848 1572
Email: Kristen.Murphy@am.jll.com
