GTIS Partners Debt Capital Management and Union Labor Life Insurance Company Close Financing Deal for Premier Boston Condo Development

NEW YORK--()--GTIS Debt Capital Management, a joint venture between GTIS Partners and GoldenTree Asset Management, and The Union Labor Life Insurance Company (ULLICO), today announced the closing of a $160 million loan to fund development of the first fully-amenitized high-end condo building in Boston’s exclusive Beacon Hill district.

The property, known as The Archer Residences Beacon Hill, is situated a block away from Boston Common adjacent to the Massachusetts State House. The former Suffolk University Law School buildings will eventually house approximately 70 bespoke luxury homes complete with on-site parking, concierge / doorman, gym, kids room, common roof-deck and a host of other amenities.

“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.”

The Archer Residences Beacon Hill is being developed by an affiliate of Center Court Mass, LLC, (CCM), in conjunction with Consigli Construction Co., Inc., the general contractor. Advisors Living, LLC is spearheading the sales and marketing efforts for the redevelopment.

Noted Herb Kolben, Senior Vice President of Union Labor Life's Real Estate Investment Group, “We were attracted to this investment principally because The Archer Residences Beacon Hill is destined to become a much sought-after development in one of Boston’s most elite areas. There’s nothing else comparable to it in the neighborhood.”

Condo units are anticipated to be available for sale by the end of February 2018, with occupancy by the end of 2019.

GTIS Debt Capital Management platform is a GTIS Partners and GoldenTree Asset Management joint venture which focuses on real estate financing, providing customized solutions for both development and bridge debt, with loans generally ranging from $20 million to $200 million. Property types will include multifamily, condominiums, office, retail, industrial, self-storage, hotel, mixed-use, single-family home or land development, and manufactured housing.

About GTIS Partners

GTIS Partners is a global real estate investment firm headquartered in New York with offices in Los Angeles, San Francisco, Atlanta, São Paulo, Brazil, Paris, France and Munich, Germany. GTIS Partners was founded in 2005 and is managed by President Tom Shapiro and Senior Managing Directors Josh Pristaw, Rob Vahradian, Tom Feldstein, João Teixeira and Amy Boyle. GTIS Partners has 87 employees and approximately $5.0 billion of gross real estate assets under management. The firm pursues opportunistic real estate investments through direct equity investment and non-traditional lending activities. To date, the firm has committed capital to residential, retail, industrial, office, hotel and mixed-use projects in the U.S. and Brazil, and is among the largest real estate private equity companies in Brazil. For more information, please visit www.gtispartners.com.

About GoldenTree Asset Management

GoldenTree is an employee-owned, global asset management firm that specializes in opportunities across the credit universe in sectors such as high yield bonds, leveraged loans, distressed debt, structured products, emerging markets and credit-themed equities. GoldenTree was founded in 2000 and is one of the largest independent asset managers focused on credit. GoldenTree manages over $26 billion for institutional investors including leading public and corporate pensions, endowments, foundations, insurance companies and sovereign wealth funds. For more information, please visit www.goldentree.com.

About CCM

CCM is a Boston based, fully-integrated owner, operator, and developer of commercial real estate. The firm’s principals have more than 25 years of experience investing, developing and managing over 14 million square feet of commercial space and 26,000 residential units. CCM has acquired a diversified real estate portfolio that includes residential, office, industrial, mini-storage, and retail.

About ULLICO

Ullico provides insurance and investment solutions for labor organizations, union employers, institutional investors and union members. Founded more than 90 years ago, the company takes a proactive approach to anticipating labor’s needs, developing innovative financial and risk solutions and delivering value to our clients. Our products are tailored to promote financial security and stability for American workers.

The Ullico Inc. family of companies includes The Union Labor Life Insurance Company; Ullico Casualty Group, Inc.; Ullico Investment Company, Inc.; and Ullico Investment Advisors, Inc. For additional information, visit www.ullico.com.

About Advisors Living, LLC

Advisors Living is a full-service luxury real estate lifestyle and brokerage company representing residential, new development, and leasing clients. Our team is committed to exceptional service and delivery and our depth of experience is unparalleled in today’s market. Our clients benefit from spheres of influence contacts, and best practices of our commercial arm, Boston Realty Advisors, providing a deeper bench and one-of-a-kind competitive edge. The Advisors Living team provides trusted advisors for real estate while combining quantitative research with the qualitative lifestyle requirements to protect investments and serve our clients with seamless execution of design, marketing, and sales solutions. For more information about the Archer Residences Beacon Hill please visit, www.thearcherresidences.com.

Contacts

Water & Wall Group
Scott Sunshine, 212-625-2364
scott@w.group

Contacts

Water & Wall Group
Scott Sunshine, 212-625-2364
scott@w.group