Cornerstone Realty Capital arranges $2 million in financing

August 09, 2019 - Financial Digest

Brighton, MA Cornerstone Realty Capital has arranged $2 million in financing for a three-unit property situated in a transit-oriented location in the city. The property features a mix of 1 three-bedroom, two-bathroom unit, 1 five-bedroom, two-bathroom unit and 1 six-bedroom, two-bathroom unit. Each unit’s kitchen has undergone updates to make it more appealing to prospective tenants, including the addition of granite countertops and wood cabinetry. The property also includes wood flooring throughout, a shared laundry space, and adequate storage for each unit. Five reserved parking spots are available for tenants as well.

Andrew Saccone, vice president at Cornerstone, said, “Brighton has become a hotbed for development given its relative affordability and location in close proximity to some of the best institutions and employment opportunities Boston and the surrounding area has to offer. The continued strength of this market, positioning of the property, and the experience of the borrower within the neighborhood fostered a competitive lending environment with many local banks presenting aggressive and desirable terms. These factors allowed the borrower to custom tailor their loan terms to fit their short- and long-term plans for this well-located parcel.”

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