JLL Capital Markets has arranged $543 million in financing for the $596.6 million 10 World Trade project, a speculative development that will offer 555,250 square feet of life sciences, office and retail space in the heart of Boston’s Seaport District.
JLL worked on behalf of the borrower/developer team, led by Boston Global Investors, to secure a $382.5 million construction loan through a life insurance company lender. JLL also arranged approximately $160 million in joint venture equity from PGIM Real Estate (“PGIM”) and Wheelock Street Capital (WSC) for the development.
10 World Trade began sitework in first quarter 2022 and is anticipated to be delivered in fourth quarter 2024. Designed by the award-winning architects at Sasaki, the iconic tower will incorporate flexibility, wellbeing, sustainability and technology, which are the new benchmarks of development in a post-pandemic world. The “smart building ready” design allows the building to quickly adapt t
