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Monday, 15 July 2019

Madison Realty Lends $314Mln Against Boston Hotel, Residential Condo Project

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Madison Realty Capital has provided $314 million of construction financing for the Raffles Boston Back Bay Hotel & Residences in Boston.

The loan allowed its developer, a venture of Cain International, Saunders Hotel Group and the Noannet Group, to retire existing debt against the project. JLL arranged the latest loan, which was Madison Realty's first in Boston.

The mixed-use project, at 40 Trinity Place, is expected to be completed in 2021. The venture is demolishing the 11-story Boston Common Hotel and Conference Center at the site...

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Additional Info

  • Syndicate to Realpoint: No
  • Cities: Boston
  • States: Massachusetts
  • Sector: Hotel & Resort, Multifamily
  • Subject: Mortgages/Financing (MOR)
  • Private: Yes
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