Cornerstone Realty Capital arranged $2.45 million in financing on behalf of its client, 3-5 Maple Ave. LLC. The funds will be used to refinance two adjacent properties.
The two apartment buildings feature 22 one-bedroom, 13 two-bedroom, and 4 three-bedroom apartments for a total of 39 units. The properties are in excellent condition and tenants of both will have access to a mutual lot for parking.
"We were excited to work alongside 3-5 Maple Ave, LLC," said Paul Natalizio, president of Cornerstone Realty Capital. "The company has decades of management experience and a strong vision for growth and we are looking forward to supporting their continued success."
Cornerstone Realty Capital was able to deliver an aggressive fixed rate with a 30 year amortization.
Also, Cornerstone Realty Capital is pleased to announce that $800,000 in financing has been arranged on behalf of its client, UEP 185 L, LLC, for the acquisition of a three-family building in South Boston. The building includes one two-bedroom unit and two three-bedroom units.
The apartment building is located on 185 L St., and is benefitted from its proximity from South Boston's Waterfront and the South End neighborhood.
Brett Pagani, vice president at Cornerstone Realty Capital, said, "The buyer brings years of experience and a history of effective management to the table. The newest property will be no exception to his proven track record."
Cornerstone Realty Capital was able to deliver an aggressive floating rate structure.