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Life Insurer Grants $250M Loan to Bulfinch Crossing

Jan 9, 2018 | Reprints | Unlock Link

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Pacific Life Insurance Co. has provided a $250 million construction loan for a 46-story residential tower in the first phase of the 2.9-million-square-foot Bulfinch Crossing redevelopment of Boston’s Government Center Garage property.

The 480-foot-tall luxury tower at 100 Sudbury St. will contain 368 apartments and 55 condominiums, an outdoor pool, three roof decks, chef’s kitchen and outdoor dog run. Foundation work on the tower is under way following the partial demolition of the garage.

HFF’s John Fowler, Riaz Cassum and Jennifer Keller sourced the debt for developer HYM Investment Group of Boston and its joint venture partner, National Real Estate Advisors.

The legal team structuring and closing the construction financing and related corporate, tax and land use matters was led by Difede Ramsdell Bender PLLC and Goulston & Storrs for the borrower and development team and Kelley Drye and Dain Torpy, for the lender.

B&T Daily