Boston-based Samuels & Co. has formed a joint venture with Principal Enhanced Property Fund for its 245,000-square-foot Launch at Hingham Shipyard complex.

The mixed-use project developed by Samuels on Hingham Harbor opened in 2009 and is 95 percent leased. Along with retail anchors such as Trader Joe’s and Patriot Cinemas, the complex contains a 235-unit apartment complex and 150-unit condominium development. It has permits for an additional 83 condos, according to Mary Savage-Dunham, Hingham’s director of community planning.

CBRE’s Kyle Juszczyszyn, Chris Coutts and Taylor Shepard sourced the joint venture and arranged $43.9 million in first mortgage financing from MetLife. MetLife was chosen to provide permanent mortgage financing because of its competitive terms and provision for a rate lock ahead of the closing date, Juszczyszyn said in a statement.

PEPF is an open-end real estate investment vehicle managed by PrinREI, a subsidiary of Des Moines, Iowa-based Principal Financial Group.