HFF arranged construction financing and joint venture equity totaling $680 million for the 61-story Four Seasons Hotel & Private Residences One Dalton Street, Boston, the tallest building to be constructed in New England since the early 1970s.
HFF worked on behalf of Carpenter & Company to secure the $500 million construction loan through The Children's Investment Fund Management. Citi Private Bank raised $180 million in joint venture equity for the project.
Designed by architects Pei Cobb Freed & Partners in collaboration with Cambridge Seven Associates, Four Seasons Hotel & Private Residences One Dalton Street, Boston will be the only super luxury high-rise residential tower in the city, offering unobstructed views in all directions.
The development will consist of 180 private residences on floors 25 through 61 of the building and a 211-room luxury hotel occupying the lower 23 floors. In addition to exclusive residential amenities, residents will have full access to all of the hotel's world-class services and amenities, including two restaurants, two lounges and a private health club and spa with a 70-foot swimming pool located along an exterior glass wall. Both the hotel and residential entrances and lobbies will front the new park being developed across the street and are adjacent to the 10-acre Christian Science Plaza, which provides built-in open space for residents. The property is within close proximity to the shops, restaurants and entertainment venues of Copley Place, The Prudential Center, Boylston Street and Newbury Street, as well as cultural amenities such as the Boston Public Library, Symphony Hall and the Museum of Fine Arts. Public transportation is available via the MBTA's Green and Orange Lines. The project broke ground January 2015, and construction is estimated to occur over a two and a half year period.
The HFF debt and equity placement team representing the borrower was led by senior managing director Riaz Cassum, executive managing director John Fowler and senior real estate analyst Robyn King.