Real estate investment trust Boston Properties has completed construction financing for its Russia Wharf development located in Boston.
The five-year, $215-million secured construction loan bears interest at a floating rate equal to the London Interbank Offered Rate plus 3 percent per annum, the trust said in a statement. Construction financing was provided by a syndicate of commercial banks.
Russia Wharf, also known as 280 Congress St., is located on Boston’s waterfront, with frontage on both the Rose Kennedy Greenway and Boston Harbor.
The 854,000-square-foot mixed-use development includes Class A office space in a 31-story tower with retail and public spaces at its base, a residential component and a 650-space below grade parking facility.
Wellington Management Co. has leased approximately 450,000 square feet of the office space in the development.
Boston Properties is seeking LEED Gold designation for the project from the U.S. Green Building Council.





