Holliday Fenoglio Fowler (HFF) has arranged joint venture equity and construction financing for the ground-up development of Waterside Place, a 236-unit high-rise apartment building located in Boston’s Seaport District.

Waterside Place is being developed by The Drew Co. and an institutional client advised by J.P. Morgan Asset Management. Construction financing in the amount of $72 million is being provided by a consortium of banks led by RBS Citizens, as sole lead agent and arranger, in partnership with Eastern Bank and Blue Hills Bank, according to a statement.

"Waterside Place is one of the most exciting multifamily developments in the city of Boston today," said Anthony Cutone, a managing director of HFF. "This is a prime example of what we are seeing across the country; construction financing is readily available to well-positioned projects backed by top-notch sponsorship."

The $120 million residential development is situated on 1.2 acres between the Boston Convention & Exposition Center and the Seaport Hotel. The smart-growth, transit-oriented and sustainable community will include rental housing, retail and parking directly adjacent to the World Trade Center Silver Line transit station.

Waterside Place is part of a larger development known as the Core Block – a parcel of land that totals approximately eight acres and is located between Summer and Congress Streets. The Core Block, of which the Waterside Place project occupies the northern edge, is immediately adjacent to the Seaport Hotel and Seaport East office building. Waterside Place is immediately adjacent to two parks – Eastport Park and South Boston Maritime Park.

The HFF team representing the borrower was led by executive managing director John Fowler. Managing director Coleman Benedict and director Ben Sayles were responsible for arranging the joint venture equity while managing director Anthony Cutone and director Lauren O’Neil secured the construction financing.