Hypo Real Estate Capital Corporation closes $142 million loan for mixed-use complex (US/IR/DE)

Hypo Real Estate Capital Corporation – the New York-based subsidiary of Hypo Real Estate Bank International – closed a $142 million, 3-year loan on November 10 to RBW, LLC, for the construction of a mixed-use development in Boston, Massachusetts.

Known as Battery Wharf, the development will consist of a 150-room
Regent-flagged hotel, 104 luxury residential condominium units, 376 belowgrade parking spaces, 30,000 square feet of retail space and a 300-linear-foot marina. Battery Wharf is located directly on the Boston waterfront, at the intersection of Battery and Commercial Streets. Completion is anticipated for fall 2007.

"Hypo Real Estate Capital Corporation is pleased to provide financing for this landmark development," stated Evan F. Denner, Deputy CEO of Hypo Real Estate Capital Corporation. "The City of Boston has long anticipated redevelopment along its waterfront and this development project will help serve as an impetus to the revitalization of the entire area."

Source: Hypo Real Estate Bank

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