Cornerstone Realty Capital arranges $3.1 million for 9 units

Cornerstone Realty Capital arranged $3.1 million on behalf of MJ Ventures LLC for the acquisition of an apartment property. The 202-206 H St. property houses 9 total units, featuring 5 two-bedroom, 1 three-bedroom, and 3 four-bedroom apartments. South Boston has generated heavy interest from investors over the past decade. The large scale developments in the area have invited the growth of a variety of retail outlets and a diverse selection of restaurants and entertainment venues. South Boston has also aesthetically benefitted from multiple green spaces, including Medal of Honor Park and Joe Moakley Park. Cornerstone was able to deliver a fixed-rate with a 30 year amortization. Tenants of the property can easily access Dorchester Ave., Andrew Station on the MBTA Red Line, or the Southeast Expressway and Mass Tpke. The property is proximate to these routes, which allows commuters to find major employment centers throughout Boston's Financial District and Downtown areas with ease. "The South Boston market continues to generate significant investment interest due to its strong fundamental values," said Brett Pagani, senior vice president at Cornerstone. "The asset, under its new management, provides room for substantial growth, which Cornerstone leveraged to secure aggressive financing."