GTIS Debt Capital Management, a joint venture between GTIS Partners and GoldenTree Asset Management, and The Union Labor Life Insurance Company has granted a $160 million construction to an affiliate of Center Court Mass. The funding will be used for the development of the first high-end condo building in Boston’s Beacon Hill district. The project, The Archer Residences Beacon Hill, is the home to the former Suffolk University Law School buildings. Plans call for 70 units with on-site parking, a concierge gym and a common roof-deck. Condo units should go on sale by the end of February 2018, with occupancy by the end of 2019.
“We’re delighted to have been able to put our debt capital facilities to work to fund construction for what will become one of Boston’s premier residential properties,” said David Blum, Managing Director and Portfolio Manager of GTIS Debt Capital Management. “This is an exciting project and its successful completion will be the direct result of the outstanding developer, general contractor and lender team that joined with GTIS Debt Capital Management to make this development a reality.”
