Church Park Apartments (The United Company)
Transactions — Refinancing and Restructuring
- Boston, Massachusetts
- Class A, mixed-income, mixed-use property with 508 luxury apartments and 71,400 square feet of retail space
Since 1990, Recap Real Estate Advisors has guided the owners of Church Park Apartments in improving financial results and increasing property value. Over this time, we have successfully provided a range of advisory, transaction design, and transaction execution services. Most recently, in July 2009, we successfully structured and completed a $130 million refinancing transaction in the most challenging financial environment in decades.
The 2009 refinancing was only the latest accomplishment in a long-term strategy developed and implemented over the past 15 years. The strategy has allowed the ownership to periodically access its substantial built-up equity in the property, facilitated the restructuring of the limited partnership entity to maximize long-term value, and eliminated all known threats to property viability.