Cornerstone Realty Consultants arranged two loans totaling $1.45 million for its client allowing for the refinance of two 3-unit apartment properties located in the city's Mission Hill neighborhood. Both properties, one located on Wensley St. and the other on Huntington Ave., feature large units all of which have undergone recent renovations. The Wensley St. property contains 3 three-bedroom units while Huntington Ave. features 2 three-bedroom units and 1 four-bedroom unit.
Both properties are located between area universities and many of the city's prized retail and business districts. The property's location further benefits tenants by providing easy access to major commuter routes such as I-90 and 93, as well as direct access to the MBTA green line.
Brett Pagani, vice president of Cornerstone, said, "These properties are situated in one of the most tenant rich neighborhoods in the city. They have benefitted from strong management and recent rental increases which made the properties cash flow attractive to local lenders."
Cornerstone specializes in structuring and sourcing innovative financing for all property types. In addition, Cornerstone provides 1031 exchange consulting and acquisition services. To learn more about Cornerstone Realty Consultants please call us at 781.438.1300 or email us at [email protected].