Cornerstone Realty Capital arranges $42 million for Radius Apartments

Brighton, MA Cornerstone Realty Capital arranged $42 million for the refinance of a newly constructed apartment building. Known as the Radius Apartments, the property features a total of 132 units – a mix of 52 studio units, 60 one bedroom, one-bathroom, and one-bedroom, one-bathroom plus a den units, 20 two-bedroom, one-bathroom units and three retail spaces totaling 5,038 s/f. The retail spaces each face high-traffic areas. Each residential unit features stainless-steel appliances, quartz countertops and hard wood flooring throughout. Modern conveniences, such as Nest thermostats, smart phone enabled keyless entry systems, USB outlet ports, and individual in-unit washer and dryers, are outfitted in each residential space. Tenants will enjoy the ample storage space, including walk-in closets in the bedrooms. Select units also include floor to ceiling windows and private balconies. The upper floors feature amenities overlooking the Boston skyline including a fitness center and meditation room, a penthouse solarium, a roof deck with grills and a lounge, and an office center with conference rooms. Additional amenities throughout the building include a pet spa, Amazon Hub lockers, bike storage and electric car charging stations. There are 108 garage and surface parking spaces in total available to tenants.

Paul Natalizio, president of Cornerstone, said, “Radius Apartments, with its comprehensive amenity package, sleek design, and central location, is an exemplary asset that sets itself apart in a constantly evolving and competitive neighborhood. Given the property’s quality and the strength of the sponsor, Cornerstone was able to deliver excellent loan terms with a local lender including an exceptionally low fixed rate.”