January 21, 2020
JLL Capital Markets recently arranged a $6-million construction loan for 80 Terrace St., a nine-unit, boutique, for-sale residential condominium building in Boston’s Mission Hill neighborhood. Directors Martha Nay and Michael Johnson worked on behalf of the developer, Primary Development, to secure the floating-rate construction loan through Centreville Bank.
Due for completion in the first quarter of 2021, 80 Terrace St. will feature 21,000 gross square feet, including nine two-bedroom/two-bathroom for-sale condo units, one commercial unit and nine parking spaces. The commercial component can be divided into six office studios connected to a common kitchenette area.
Centreville’s Craig Schermerhorn, VP of commercial lending, represented the bank. The Mission Hill area is a rapidly developing area of the Boston Metro catering to high-earning professionals. It’s located within walking distance to the Longwood Medical area and an 18-minute commute into downtown Boston
For comments, questions or concerns, please contact Paul Bubny