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14 story residential DT boston

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only 14 stories but a nice project;

$63M Financing Secured for Downtown Condo Project

By Naomi Grossman

Last updated: Feb 2, 2004 07:47AM

BOSTON-Financing in the amount of $63 million was acquired for Folio Boston, a high-rise residential condominium project at 80 Broad St., located in the city's financial district. Spaulding & Slye Colliers' Structured Finance Group arranged the construction debt and joint-venture equity on behalf of Broad/Franklin Development Trust, an affiliate of the Suffolk Companies of Boston, which owns the property. Real Estate Capital Partners and HSH Nordbank provided the loan.

The project will consist of a 135,000-sf, 14-story building with 96 luxury condominiums on the edge of the new "Rose Kennedy Greenway" which has emerged with the completion of the Big Dig, the city's massive highway project. The development is scheduled to begin construction next month and will feature 118 underground parking spaces and 5,500 sf of ground floor retail. The condominiums will range in price from $350,000 to $2 million.

"80 Broad St. is market making in terms of capital structure and product type for Boston," says Martin O. Kamm, a principal of Spaulding & Slye Colliers and managing director of the firm's Structured Finance Group. "When complete, 80 Broad will be a true franchise asset."

Broad Franklin Development Trust has partnered with private investors Real Estate Capital Partners and HSH Nordbank, a German-based lender, and development manager Spaulding & Slye Colliers to develop this project. CBT is the architect.

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