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TCI Makes a Splash With $870M Construction Loan on Boston’s Southern facility

Children’s Investment Fund doled out of the sum to invest in the phase that is first of redevelopment of Boston’s Southern facility transportation hub

A partnership trio led by Hines this is certainly spearheading the huge redevelopment that is 1.9-million-square-foot of facility in Boston’s Financial District has gotten $870 million in construction financing from London-based The Children’s Investment Fund (TCI) to construct the very first of three stages of this task.

Houston-based designer Hines, along side Dune Real Estate Partners and APG Groep NV (APG Asset Management), a pension that is netherlands-based supervisor, will make use of the debt to make around 660,000 rentable square foot of workplace and retail space, 166 residential condominiums and much more than 500 parking areas as an element of stage one, relating to information released today by brokerage home JLL, that was accountable for sourcing and organizing the mortgage from TCI. Officials at TCI could perhaps maybe not straight away be reached.

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 transportation hub has been changed into a mixed-use that is 1.9-million-square-foot filled with a brand new, 1.2-million-square-foot, 51-story glass tower — created by Pelli Clarke Pelli Architects — over the top associated with old section at 650 Atlantic Avenue, depending on information from JLL. Read more »