Natixis Leads $480,000,000 Boston Seaport Square Project
Natixis announced today that it acted as the sole lead arranger and administrative agent for a $480,800,000 construction loan to Cottonwood Management to develop 3.5 acres in Boston Seaport Square, located in Boston, Massachusetts. The project is an 819,000 square-foot mixed use space located in one of the most desirable waterfront areas for commercial and residential development. The loan will finance a 717-unit residential facility, two condominium towers and one luxury rental tower, and will also include a two-story,125,000 square foot, retail base podium centered around a public courtyard.
“We’re thrilled to be financing Boston’s Seaport Square project, which illustrates our ability to provide borrowers tremendous capital markets access and unique, tailored deal structures and financing solutions,” said Greg Murphy, Head of Real Estate Finance Americas, Natixis. “We are encouraged by what this deal says about the quality of our platform, and believe the Seaport has found a great partner in Cottonwood Management.”
The property’s residential units will feature luxury finishes including quartz countertops, stainless steel appliances, gas fireplaces, floor-to-ceiling windows and in-unit laundry, Porcelanosa cabinetry and porcelain tile. Common amenities will include a wine room, lounge, outdoor and indoor swimming pools, spa treatment room, half basketball court, innovation center, children’s playroom, pet spa, and state-of-the-art lobbies.
The Seaport District is less than 200 yards west of the MBTA Silver Line’s subway station at World Trade Center. The Silver Line provides convenient access to South Station, a major public transportation hub in Boston or Logan International Airport.
Cottonwood Management, LLC is a privately-held real estate asset management company led by Alexander Shing, headquartered in Southern California, with offices in New York and Boston. Cottonwood’s portfolio consists of assets located in major cities, including but not limited to, San Francisco, Seattle, San Jose, Los Angeles, New York, Boston, Las Vegas, Phoenix, and Houston.