Prudential Mortgage Capital Co. has provided a $114 million construction loan to Apartment Investment and Management Co. (Aimco) to develop an apartment community in Boston’s Bulfinch Triangle. Prudential Mortgage Capital Co. is the commercial mortgage lending business of Prudential Financial Inc.

One Canal will be a 12-story, 22,000-square-foot Class A building at Canal and New Chardon streets. Its 310 apartments will include 289 market-rate and 21 affordable units. The property is adjacent to the Rose Fitzgerald Kennedy Greenway.

Units will have amenities such as granite kitchen countertops, stainless steel appliances and in-unit laundry. The building will have a fitness center, billiards room and rooftop swimming pool.

"The Bulfinch Triangle/North Station area is one of the top residential locations in Boston because of its location between the West End and the North End. It is within walking distance of the Financial District, Massachusetts General Hospital, Government Center and Beacon Hill," Kip Kimble, a principal with Prudential Mortgage Capital Co.’s multifamily originations team, which led the transaction out of the company’s Boston office, said in a statement. "Those factors, combined with the strength and experience of Aimco and the quality of the property, made this an extremely attractive transaction for us."

Prudential Mortgage Capital Co. Provides $114M Loan For Multifamily Property In Boston

by Banker & Tradesman time to read: 1 min
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