HFF has arranged $680 million in construction financing and joint venture equity for the Four Seasons Hotel & Private Residences project, which broke ground in January in Boston’s Back Bay.
The London-based Children’s Investment Fund Management LLP provided the $500 million construction loan. Citi Private Bank raised $180 million in joint venture equity for the developer, Cambridge-based Carpenter & Co.
Designed by architects Pei Cobb Freed & Partners in collaboration with Cambridge Seven Assoc., the 61-story tower at 1 Dalton St. will become the third-tallest building in Boston after the Prudential and Hancock towers. It will include 180 luxury condos and a 211-room luxury hotel on the upper levels and a luxury hotel on the lower 23 floors. Construction is expected to take two-and-a-half years.
Riaz Cassum, John Fowler and Robyn King of HFF’s debt and equity placement team represented the borrower.
Founded by Richard Friedman in 1973, Carpenter & Co. developed the Liberty Hotel and Logan Airport Hilton, the Brookline Marriott Courtyard, Charles Square and Charles Hotel and the Westin Boston Waterfront.
