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PRESS

Boston Tea Party Ships & Museum Secure Loan for Renovation Efforts; Cross-Office, Cross-Practice Nixon Peabody Legal Team Advises in the Matter

March 7, 2011
Allison McClain
amcclain@nixonpeabody.com
617-345-1128

Boston, MA. International law firm Nixon Peabody LLP represented Boston Tea Party Ship, Inc., in a closing involving an $18 million construction loan from the Massachusetts Convention Center Authority and a $3 million grant from the Boston Redevelopment Authority.

Boston Tea Party Ship, Inc., is a wholly owned subsidiary of Historic Tours of America (www.historictours.com), which operates historic tours and sites in Boston, MA, Washington, DC, Key West, FL, St. Augustine, FL, Savannah, GA, and San Diego, CA. The company leases the former location of the Boston Tea Party Ships & Museum, located in the city’s Fort Point Channel neighborhood.

In order to complete the financing successfully and begin the construction project, Nixon Peabody attorneys had to obtain the appropriate city permits, negotiate construction and development contracts, complete the acquisition of the project site, and finally secure the construction loan and grant proceeds. Construction has started and the project is slated to open in the spring or summer of 2012. Historic Tours of America’s CEO Chris Belland said, “Because of the location on the harbor watersheet and the numerous agency overlays, this was the most complex closing with which I have ever been involved. I don’t think there are many firms who could have handled this as efficiently as Nixon Peabody.”

Nixon Peabody’s legal team was led by Larry DiCara, Matthew Lynch, and Mahmood Firouzbakht. The team also included Ruth Silman, Bruce Baker, Frank Hamblett, Ernie Reddick, Darren Miller, and Ethan Ceplikas.