News January 12, 2022
Boston Condos Set to Rise With $345M Loan From Madison Realty Capital
Commercial Observer reported that Cronin Development has secured $345 million of construction financing from Madison Realty Capital for a planned mixed-use condominium project in Boston’s Seaport District. St. Regis Residences at 150 Seaport Boulevard will be a 22-story, 114-unit residential and retail development. “We are thrilled to engage Madison Realty Capital as a single source of financing to complete this luxury residential product, which will be the last waterfront residential development in the Seaport District,” Jon Cronin, founder of Cronin Development, said in a statement. Madison Realty Capital has been very active in New England’s largest city, including a $165 million loan to Scape North America for the development of a 451-unit multifamily project in Boston’s Fenway neighborhood and a $314 million construction loan to Raffles Boston Back Bay Hotel & Residences.