Cornerstone Realty Capital arranges $13.5 million in financing for two properties in the Fenway neighborhood of Boston

Boston, MA Cornerstone Realty Capital arranged $13.5 million in financing for two properties in the Fenway neighborhood of the city. The two properties include a total of 47-units with a unit mix of 5 studios, 15 one-bedroom, one-bathroom units, 26 two-bedroom, one-bathroom units and 1 three-bedroom, two-bathroom unit. The majority of units have been renovated to include modern, desirable finishes, while the flooring in the common areas was recently updated as well. All units include wood cabinetry and hardwood flooring throughout, while select units also include granite countertops and an in-unit dishwasher. Tenants will enjoy having shared laundry and 14 paved parking spots are available to tenants for as well.

The Fenway neighborhood has seen a lot of redevelopment over the last five years, including the addition of a variety of new restaurants, mixed-use properties and office buildings.

Paul Natalizio, president of Cornerstone, said, “The unabating improvement of the Fenway area over the last decade has allowed our client to tactfully add value to this property through incremental renovations and receptive property management. Because of these improvements, including extensive efforts to improve the energy efficiency of the property, our client was able to secure an exceptionally low fixed rate through a national lender.”