CWCAPITAL PROVIDES $130 MILLION LOAN FOR CHURCH PARK

BOSTON — CWCapital, a subsidiary of CW Financial Services, has provided a $130 million loan for the refinancing of Church Park, a 12-story luxury apartment tower located in Boston. The property was developed in 1973 and is located at 221 Massachusetts Ave. It consists of 508 Class A apartments, 71,399 square feet of ground-floor retail space and a six-story parking garage. Apartment amenities include a penthouse community room with wireless Internet access, a fireplace, a baby grand piano and a rooftop terrace. Other amenities include 24-hour security and full concierge services. Tenants for the building’s retail component include Whole Foods Market. The building is currently 99 percent leased. Andrew Gnazzo and Michael Darling of CWCapital’s Boston office originated the loan through Freddie Mac’s Capital Markets Execution Program. Terms of the financing include a 10-year term and a 5.51 percent fixed interest rate. CAS Financial Advisory Services advised the borrower, Boston Residential Group.