Cain International is partnering with the local developers behind the $400 million Raffles Boston Back Bay Hotel & Residences, which will replace the former Boston Common Hotel and Conference Center at 40 Trinity Place.

New York-based Madison Realty Capital last week granted a $314 million construction loan for the 33-story hotel and luxury condominium tower. Demolition of the now-closed Boston Common Hotel is expected to begin in September, developers Trinity Stuart LLC said last month.

The development team, comprised of Jordan Warshaw of The Noannet Group and Gary and Jeffrey Saunders of Saunders Hotel Group, struck an agreement with AccorHotels’ Raffles brand for its first U.S. property in 2018.

Cain International also has made investments in the Waldorf Astoria Beverly Hills, the Beverly Hilton Hotel and the Aman Hotel & Residences in New York. The company is a partnership between its CEO, Jonathan Goldstein, and Eldridge Industries, a Greenwich, Connecticut-based investment firm.

JLL’s Riaz Cassum and Anthony Cutone arranged both the equity and debt financing for the Back Bay property.