Cornerstone Realty Capital closes $7 million financing for 8 property portfolio

Cornerstone Realty Capital arranged $7 million for the refinance of an eight property portfolio in South Boston. The 8 properties feature 28 units and are located within 2 miles of one another in the area's strong rental market. The properties are owned by multiple Massachusetts based corporations. The unit mix of the portfolio consists of 11 one-bedroom, 7 two-bedroom, 9 three-bedroom and 1 four-bedroom units. The properties are located at: *288 Athens St.; * 19 O St.; * 5-7 Burrill Place; * 498 East Broadway; * 1430 Columbia Rd.; * 46 Thomas Park; * 543 E 4th St.; and * 135 W 7th St. Centrally located in South Boston, the properties are a short distance away from area bus routes and the MBTA's Andrew and Broadway Red Line Stations providing the tenants unparalleled access to the Financial District and major educational institutions in downtown Boston. In addition, the properties are proximate to I-93 and 90, allowing for convenient access to Greater Boston's employment hubs. The tenants of the portfolio properties also benefit from South Boston's rich selection of retail and dining options. Paul Natalizio, the principal of Cornerstone, said, "Cornerstone's past experience with the principal of the Borrowing entities and the properties' superior positioning within South Boston allowed us to arrange the most competitive financing structure in the market." Cornerstone was able to deliver an aggressive fixed rate with 30 year amortization. Cornerstone specializes in structuring and sourcing innovative financing for all property types.