BOSTON— Cornerstone Realty Capital recently arranged a total of $3 million in financing for a portfolio of properties in South Boston.
There are (9) units between the properties, a mix of (6) one-bedroom, one-bathroom units, (1) two-bedroom, one-bathroom unit, (1) three-bedroom, two-bathroom unit and (1) five-bedroom, three-bathroom unit. All units feature an open floorplan, hardwood floors, stainless steel appliances and onsite laundry, while one of the properties also includes central air conditioning and beautiful bay windows.
South Boston has seen a tremendous amount of growth and development in the last 10 years, becoming one of the hottest neighborhoods for young professionals and young families to call home. The area has something to offer everyone, from a multitude of spacious parks to a popular beach scene at M Street Beach to a vibrant nightlife and more. Both properties are located in central locations in South Boston.
The properties are within walking distance to a variety of great restaurants offering varying cuisines, specialty coffee shops and countless boutique retail locations. Buses on the Silver Line have stops near each location, while the Broadway T stop on the Red Line is approximately 5 minutes from one of the properties, giving access into downtown Boston and the Quincy/Braintree area – both abundant with employment opportunities.
Residents will also enjoy having a grocery store within walking distance from both properties. I-90 and I-93 both are located near each property, providing direct access from Rhode Island to New Hampshire, and virtually every town in between.
Andrew Saccone, Vice President of Cornerstone, added that, “The success of the South Boston neighborhood over the last decade has perpetuated an increasingly competitive environment for buyers, renters, and, critically, lenders which allowed the Borrower to receive equally competitive terms.”
Cornerstone delivered a low fixed-rate financing structure with a 30-year amortization.