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150 Seaport Boulevard

Updated Dec 4, 2024

Cottonwood Provides $240M Loan For St. Regis Residences In Boston Seaport
FINANCEDMultiFamily

Cottonwood Provides $240M Loan For St. Regis Residences In Boston Seaport

150 Seaport Boulevard

$240,000,000

Building Size

—

Asset Type

MultiFamily

Closing

Nov 20, 2023

About this deal

AI

The St. Regis Residences, a luxury multifamily tower located at 150 Seaport Boulevard in Boston's Seaport District, has secured $240 million in senior mortgage financing from Cottonwood Group, according to sources. Developed by Cronin Development, the property offers a prime location in the bustling Seaport area.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $240,000,000
  • Lender: Alexander Shing - Cottonwood Group
  • Date: 11/20/2023
  • Address: 150 Seaport Boulevard, Boston, MA
  • Market: Boston, MA

Cottonwood Group, represented by Alexander Shing, has provided $240 million in senior mortgage financing for the St. Regis Residences. This transaction highlights the strong investment activity in the Boston market and the confidence in the luxury multifamily sector. Cronin Development's development expertise, combined with Cottonwood Group's financial backing, contributes to the success and continued growth of this project.

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$240,000,000

MultiFamily

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Players

Cottonwood Group
Cottonwood GroupLender

Boston MultiFamily Market Snapshot

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.07%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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