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Boston's Harbor Point on the Bay Secures $215M in Financing

BOSTON—The ownership of the expansive Harbor Point on the Bay housing development here has secured $215 million in multifamily senior debt.

By John Jordan | Updated on May 12, 2015

BOSTON—The ownership of the expansive Harbor Point on the Bay housing development here has secured $215 million in multifamily senior debt.

The refinancing deal was reported by KeyBank Real Estate Capital of Cleveland, which arranged the transaction for the 1,284-unit mixed affordable and market rate waterfront development via a loan placed through Freddie Mac for the project sponsor Corcoran, Mullins, Jennison, Inc. of Boston. Dirk Falardeau, vice president with KeyBank Real Estate Capital, says the new loan replaces prior CMBS debt on the property.

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