$250 million construction loan secured for Bulfinch Crossing Phase I residential tower

The HYM Investment Group and National Real Estate Advisors have secured $250 million in construction financing for 100 Sudbury Street, an under-construction 46-story residential tower that is the first phase of Downtown Boston’s $2 billion, 2.9-million-square-foot Bulfinch Crossing development. The 15-year loan was arranged by Holliday Fenoglio Fowler, L.P. (HFF) through Pacific Life Insurance Company and will allow the 480-foot-tall tower, which will feature 368 apartments and 55 condominiums, to rise. The loan follows a $180 million short-term, floating-rate loan secured for the Government Center Garage property, which Bulfinch Crossing will replace, last summer. The $180 million loan was provided through Oxford Properties Group and arranged by HFF.

Demolition of the garage section located at 100 Sudbury Street, which the tower will replace, was recently completed. Work on the tower’s foundation is now underway. The tower will feature amenities including an outdoor pool, three roof decks, a fitness center and yoga studio, a clubroom, a children’s playroom, a golf simulator room, a full chef’s kitchen and an outdoor dog run and dog spa. The tower is expected to open in 2020.

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