Cornerstone Realty Capital arranges $17 million in financing

June 12, 2020 - Financial Digest

Cambridge, MA Cornerstone Realty Capital arranged $17 million in financing for the refinance of a mixed-use property in Harvard Sq. The property, originally constructed in 2012, is comprised of three retail units totaling 6,280 s/f and twenty apartments with a unit mix of four studios, four one-bedroom, one-bathroom units, five two-bedroom, one-bathroom units, four two-bedroom, two-and-a-half-bathroom units, and three three-bedroom, two-and-a-half-bathroom units. The apartments were designed to the highest standard and units feature luxury and modern finishes such as floor-to-ceiling windows outfitted with power shades, Sub-Zero and Viking stainless-steel appliances, programmable lighting fixtures, dark-wood cabinets, quartz countertops, and other contemporary finishes. The package of amenities at the subject property include an on-site concierge, high-speed internet, a fitness center, a package delivery room, a passenger elevator, and an underground parking garage.

Paul Natalizio, president of Cornerstone, said, “Harvard Sq. has remained one of the best places to live within the Boston Metropolitan area and this property is undoubtedly one of the most desirable assets within it. Given the property’s quality, hands-on management, and consistent performance, Cornerstone was able to arrange a 10-year fixed rate below 3%.”

The property is situated on the central thoroughfare of Massachusetts Ave. at the intersection of Trowbridge St. and Putman Ave. This central location in the midst of Harvard Sq. is in the near vicinity of several desirable neighborhood features access to public transit, several parks and green spaces, and a range of entertainment, employment, and shopping options. The Harvard MBTA station on the subway’s redline is .35 miles away.

 and provides access throughout Cambridge and Boston. Also, several bus routes converge directly in front of the property that provide service to the remainder of the city and the surrounding towns of Allston, Brighton, and Somerville. 

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