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Finance
Posted: June 9, 2010
Cornerstone Realty Consultants arrange $2.8m development loan
Cornerstone Realty Consultants arranged a $2.8 million loan for its client allowing for the financing of a nearly completed 8 unit apartment development. The property is located in a residential neighborhood in between Commonwealth Ave. and Brighton Ave. providing easy access to the T and major commuting routes.
Cornerstone was able to assist the borrower in obtaining the debt by structuring a 7 year fixed rate loan at an attractive 5.8% interest rate with a 30 year amortization. The total loan commitment equated to a loan-to-value of 80%.
Brett Pagani and Paul Natalizio of Cornerstone assisted on this loan.
Cornerstone specializes in structuring and sourcing innovative financing for all property types.
In addition, Cornerstone provides 1031 exchange consulting and acquisition services.
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Finance
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Columns and Thought Leadership
The focus on price per s/f compared to the comparable sales used in the appraisal report - by Dennis Chanski
Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.
Are appraisers on the same page as the assessor? - by Richard Seman
The purpose of this article is to address problematic or confusing issues which may help assessors and appraisers to better understand how to value real estate for tax assessment purposes.
Massachusetts real estate transfers over $1 million face new tax rules as of November 1st - by Daniel Meyer
Attention to owners of real estate in the Commonwealth (and the title companies and other professionals who advise them), the Massachusetts Department of Revenue (the “DOR”) recently adopted a new “millionaire’s tax” via 830 CMR 62B.2.4
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick
Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
