Prudential Unit OKs $114M Loan For New Boston Apartments

Law360, New York (November 12, 2013, 1:51 PM EST) -- The commercial lending arm of Prudential Financial Inc. has approved a $114 million construction loan to help fund Apartment Investment and Management Co.’s development of a 12-story luxury apartment building in Boston, the company said Tuesday.

The development, known as One Canal, calls for a class-A building with 310 apartments, 22,000 square feet of ground level retail space and high-end amenities, according to a statement. The property is located at Canal and New Chardon streets above route I-93, which was rerouted under the city through a...
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