Arsenal Yards Receives Additional Financing

The Arsenal Yards development in Watertown has received an addition $102 million in financing .totalling $324 million for the project. HFF worked on behalf of Boylston Properties, The Wilder Companies, and Jonathan Bush to source institutional investors advised by JP Morgan Asset Management as joint venture equity partners, providing $102 million of equity. This comes after the project had received a $222 million loan from Wells Fargo Bank in the beginning of June (2018).

The property is a multi-phased redevelopment and expansion of the former Arsenal Mall in Watertown’s East End. Arsenal Yards will feature 350,000 square feet of retail and entertainment, approximately 425 residences ranging from studios to three-bedrooms, a 145-room Hampton Inn and Suites by Hilton hotel and 100,000 square feet of office space. Retail at Arsenal Yards will include a 30,000 square foot specialty grocer, a cinema with 6-8 limited-seating screens, active entertainment, a combination of boutiques and national retailers, half a dozen chef-driven restaurants and a premium wine superstore.

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