Hines JV receives $870m construction loan for core mixed-use tower in Boston

A joint venture between affiliates of Hines, APG Groep NV and Dune Real Estate Partners has received an $870 million construction loan for the first phase of the South Station redevelopment, which comprises a 1.2 million-square-foot, 51-story mixed-use tower that will be built at Boston's South Station transportation hub. The South Station redevelopment is a world-class, 1.9 million-square-foot mixed-use project that will transform Boston's transportation hub and skyline.

JLL Capital Markets secured the loan with The Children's Investment Fund.

Anticipated for delivery in 2024, the first phase of the project will offer approximately 660,000 rentable square feet of class AA office and retail space as well as approximately 166 residential condominium units and more than 500 parking spaces.

The office component will feature 26,000-square-foot, primarily column-free floor plates with 13-foot floor-to-ceiling heights and unobstructed views of downtown Boston and Bost