Boston Property Development of Quincy has obtained $14 million in construction financing for Liberty Place in Quincy.

Located a half-mile from the MBTA’s Quincy Center station, Liberty Place (999 Hancock St.) will include stainless steel appliances, hardwood floors, granite countertops, private balconies and oversized windows. Common area amenities include a fitness center, 2,000-square-foot roof deck, private function room and barbecue area overlooking a lawn and dog park. The 53-unit complex will contain 67 secure garaged parking spaces.

John Kelly and Sam Dylag from CBRE/New England’s multifamily debt and structure finance group arranged the construction loan from an undisclosed lender.

“Our client was looking for a low cost of capital during construction, but also wanted to mitigate long-term interest rate risk. Our banking partner was able to provide a scalable interest rate hedging strategy for an all-in-one construction-to-permanent loan,” Kelly said in a statement.

Quincy Apartment Development Obtains $14M Construction Loan

by Banker & Tradesman time to read: 1 min
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