Brighton, MA — Cornerstone Realty Capital recently arranged $42 million for the refinance of a newly constructed apartment building in the Brighton neighborhood of Boston.
Known as the Radius Apartments, the property features a total of 132 units – a mix of (52) studio units, (60) one bedroom, one-bathroom, and one-bedroom, one-bathroom plus a den units, (20) two-bedroom, one-bathroom units and (3) retail spaces totaling 5,038 square feet. The retail spaces each face high-traffic areas, a perfect location for any type of retail tenant. Each residential unit features stainless-steel appliances, quartz countertops and hard wood flooring throughout.
Modern conveniences, such as Nest thermostats, smart phone enabled keyless entry systems, USB outlet ports, and individual in-unit washer and dryers, are outfitted in each residential space. Tenants will enjoy the ample storage space, including walk-in closets in the bedrooms. Select units also include floor to ceiling windows and private balconies. The upper floors feature contemporary amenities overlooking the Boston skyline including a fitness center and meditation room, a penthouse solarium, a roof deck with grills and a lounge, and an office center with conference rooms.
Additional amenities throughout the building include a pet spa, Amazon Hub lockers, bike storage and electric car charging stations. There are 108 garage and surface parking spaces in total available to tenants. The Radius Apartments is touted as the perfect place for those who live an active urban lifestyle.
Radius Apartments is located in a trendy part of Brighton that has seen an influx of fresh development over the last few years. Known for having a neighborhood feel with somewhat of a city vibe, Brighton is a great location for young professionals and young families alike. Much of the new activity in this area is contributed to the continual development of Boston Landing, the home of the practice sites for the Boston Bruins and Celtics, New Balance’s headquarters, a large co-working space, and much more, which has brought plenty of new residents and growth to an already bustling neighborhood.
One of the most celebrated additions includes the recently opened Boston Landing MBTA station with stops spanning between two major metropolitan areas, Downtown Boston and Worcester. Radius Apartments sits about a 10-minute walk away from the Boston Landing area and train station, giving tenants easy access into two major employment regions as well as great restaurants, trendy coffee shops, various entertainment options, and shopping, all located in and around Boston Landing. Those who enjoy being around nature to take a break from the fast-paced city life will love having a popular bike path along the Charles River close by. Two well-known, grocery chains, Star Market and Trader Joe’s, each sit approximately 0.6 miles away, while a Whole Foods is just a 10-minute drive down the road. Radius Apartments is also about 0.6 miles away from Soldiers Field Road, with direct access into Boston, as well as the Massachusetts Turnpike, a short 2.5-mile drive away. With the addition of a new train station, the shopping, dining and employment options that Boston Landing has brought, and the close accessibility to the downtown Boston area, Radius Apartments is a competitive option within a high-demand market.
Paul Natalizio, President of Cornerstone, added that, “Radius Apartments, with its comprehensive amenity package, sleek design, and central location, is an exemplary asset that sets itself apart in a constantly evolving and competitive neighborhood. Given the property’s quality and the strength of the sponsor, Cornerstone was able to deliver excellent loan terms with a local lender including an exceptionally low fixed rate.”