Built in 1971, Church Park has been renovated and updated over the years, most recently by Stantec, formerly ADD, Inc. It now features a roof deck, exercise room, and bike storage, as well as a 24-hour doorman. Boston Residential Group says it has consistently been close to 100% occupied.

HFF worked on behalf of The United Company Apartments LLC, to secure the $200-million, long-term, fixed-rate loan through AIG. In addition, a $65-million co-terminous mezzanine loan was arranged by HFF through JP Morgan Asset Management. The HFF debt placement team that represented the borrower was led by senior managing director Frederic Wittmann and managing director Greg LaBine.

“Church Park has undergone continuous renovations and upgrades throughout its history to give its customers a first-class residential experience,” says LaBine. “In addition, its retail tenancy allows renters access to most of their shopping needs right on their doorstep. This feature along with the unparalleled location made this an attractive opportunity for the lending community.”

The privately held Boston Residential Group owns and operates more than 3,000 multifamily units representing $1.7 billion in asset value.

Steady gains in the US economy have resulted in net positives for the multifamily sector—will this wave continue for the foreseeable future? What's driving development and capital flows? Join us at RealShare Apartments on October 19 & 20 for impactful information from the leaders in the National multifamily space. Learn more.

BOSTON—The Boston Residential Group reports it has landed $265 million in debt financing from Freddie Mac for its luxury Church Park Apartments development in the Back Bay.

The deal includes a loan from AIG and mezzanine debt from JP Morgan Asset Management. Holliday Fenoglio Fowler, L.P. arranged the first mortgage and mezzanine financing for the Church Park Apartments, a 508-unit, luxury multi-housing community that also features 74,000 square feet of retail space. Its tenant roster includes a Whole Foods, CVS, Santander Bank and Economy Hardware.

The 705,000 square foot mixed-use property consists of a 12-story building and a six-story building, as well as 540 parking spaces.

“We were pleased at the strong interest the debt market showed in this asset, originally developed 45 years ago, and we appreciate the confidence AIG and JP Morgan have placed in our management team. This transaction is a big win for the partnership,” says Curtis R. Kemeny, president and CEO of Boston Residential Group on behalf of The United Company Apartments LLC.

Built in 1971, Church Park has been renovated and updated over the years, most recently by Stantec, formerly ADD, Inc. It now features a roof deck, exercise room, and bike storage, as well as a 24-hour doorman. Boston Residential Group says it has consistently been close to 100% occupied.

HFF worked on behalf of The United Company Apartments LLC, to secure the $200-million, long-term, fixed-rate loan through AIG. In addition, a $65-million co-terminous mezzanine loan was arranged by HFF through JP Morgan Asset Management. The HFF debt placement team that represented the borrower was led by senior managing director Frederic Wittmann and managing director Greg LaBine.

“Church Park has undergone continuous renovations and upgrades throughout its history to give its customers a first-class residential experience,” says LaBine. “In addition, its retail tenancy allows renters access to most of their shopping needs right on their doorstep. This feature along with the unparalleled location made this an attractive opportunity for the lending community.”

The privately held Boston Residential Group owns and operates more than 3,000 multifamily units representing $1.7 billion in asset value.

Steady gains in the US economy have resulted in net positives for the multifamily sector—will this wave continue for the foreseeable future? What's driving development and capital flows? Join us at RealShare Apartments on October 19 & 20 for impactful information from the leaders in the National multifamily space. Learn more.