William MacDonald Of Mill Creek Secures $95M Loan From Santander For Allston Development Site

The property asset involved in this transaction is a development site located at 250 Everett Street in Allston, MA. The transaction included a loan amount of $95,000,000 which will be utilized for the development of a six-story, 235-unit apartment building featuring amenities such as a fitness center, bike storage, and lawn space.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $95,000,000
• Address: 250 Everett Street
• Market: Allston, MA
• Lender: Santander Bank
• Landlord: William MacDonald - Mill Creek

A Mill Creek Residential affiliate collaborated with Florida PE firm Kayne Anderson in this transaction. They acquired the property for $14.5 million prior to securing the $95 million loan for the development project.