A Seaport District luxury condominium development that struggled with construction delays and slow sales will be transferred to lender Cottonwood Group’s ownership, according to a report.
The developer of the St. Regis Residences in Boston’s Seaport District received a $240 million mortgage from a company that developed the nearby Echelon Seaport complex.
The newest residential building at Boston’s EchelonSeaport includes 270 apartments with studios starting at $2,400 – and offers for up to two months free rent.
The management company for condominiums at the Intercontinental Hotel and Fan Pier has been selected to provide resident services for the first two towers scheduled to open at the EchelonSeaport complex.
A Korean investor is partnering with Cottonwood Group on its $950 million EchelonSeaport development and future projects in the U.S.
