Cornerstone Realty Capital completes $1.9 million in financing for a mixed-use property

December 14, 2018 - Financial Digest

Clinton, MA Cornerstone Realty Capital arranged $1.9 million in financing for a mixed-use property. The property consists of 16 apartments and two commercial spaces. The apartments feature a mix 4 one-bedroom and 12 two-bedroom units, all of which have undergone recent renovations including updated appliances, new cabinetry and new flooring. 

Patrick Brady

The commercial spaces average 2,300 s/f and feature wood flooring and a brick exterior. Parking is available behind the building, making the retail spaces even more appealing to the public.  

Patrick Brady, vice president of Cornerstone, said, “The placement of this mixed-use building within Clinton coupled with its recent renovation presents an attractive opportunity for residents of both the retail and residential spaces to truly utilize all of the activities, indoors and out, this area offers. We were able to obtain a loan structure with an aggressive rate and the ability to recapture equity invested at the property which was advantageous to our client.”

Cornerstone was able to secure a fixed rate loan through one of their correspondent lenders with 30 year amortization.

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