This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

HFF Arranges Joint Venture Equity And Construction Financing For Waterside Place In Boston

HFF announced today that it has arranged joint venture equity and construction financing for the ground-up development of Waterside Place, a 236-unit high-rise apartment building located in Boston’s Seaport District.

Waterside Place is being developed by The Drew Company and an institutional client advised by J.P. Morgan Asset Management. Construction financing in the amount of $72 million is being provided by a consortium of banks led by RBS Citizens, as Sole Lead Agent & Arranger, in partnership with Eastern Bank and Blue Hills Bank.

“Waterside Place is one of the most exciting multi-family developments in the City of Boston today,” said Anthony Cutone, a managing director of HFF. “This is a prime example of what we are seeing across the country; construction financing is readily available to well-positioned projects backed by top-notch sponsorship. Waterside Place, The Drew Company and J.P. Morgan are simply the best of the best.”

The $120 million residential development is situated on 1.2 acres between the Boston Convention & Exposition Center and the Seaport Hotel. The smart-growth, transit-oriented and sustainable community will include rental housing, retail and parking directly adjacent to the World Trade Center Silver Line transit station.

Waterside Place is part of a larger development known as the Core Block – a parcel of land that totals approximately eight acres and is located between Summer and Congress Streets. The Core Block, of which the Waterside Place project occupies the northern edge, is immediately adjacent to the Seaport Hotel and Seaport East office building. Waterside Place is immediately adjacent to two parks - Eastport Park and South Boston Maritime Park. In addition, the site affords broad views of downtown Boston, Boston Harbor and its islands, as well as extended horizon views to the south and southwest.

Boston’s emerging Seaport District is one of the city’s hottest submarkets and will be the main area of growth over the next five years. Waterside Place will thus be able to offer its residents unfettered access to a wide array of the city’s best amenities including restaurants, cultural venues and shopping, as well as public transportation and immediate access to the intersecting highway system.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs