Image courtesy of Colliers

Boston-based Redgate and partners obtained $62 million in refinancing from CrossHarbor Capital Partners for an award-winning East Boston apartment complex that currently lists studios starting at $2,234.

Construction was completed in late 2021 at The Addison, a 230-unit complex at 144 Addison St. in the Orient Heights section.

Colliers sourced the financing on behalf of Redgate. The loan was provided to a joint venture of Redgate Capital Partners, North River Co. and ELV Associates Inc.

Designed by Arrowstreet, the complex includes an elevated swimming pool, industrial kitchen and makerspace equipped with art supplies, embroidery machines and laser-cuttter.

“The debt market showed robust interest in this opportunity, highlighting the depth of liquidity pursuing core multifamily with top-tier sponsors,” Colliers Vice President Bryan Koop said in a statement.

The project was recognized by the International Interior Design Association’s New England awards contest in 2022 in the residential multi-unit category.

M&T Bank provided $60.2 million in financing for the project in 2020.