Boston Realty Advisors (BRA) has arranged senior secured debt financing for the acquisition and repositioning of Casco Crossing, a 96-unit Class A apartment community. Debt and equity finance practice group leader, Nicholas Herz, arranged the $14.75 million acquisition loan and capital improvements facility through Leader Bank on behalf of the buyer.
"We successfully tailored a unique structure that maximized results to all parties, which is a testament to the strength of the asset," said Herz.
Casco Crossing was constructed in 2007 and features one and two bedroom apartments. The community boasts a fitness center, swimming pool and covered parking. The community offers easy accessibility into the city and is proximate to the commuter rail, Rtes. 93 and 495, providing residents with access to employment opportunities in downtown Boston, Cambridge, and the I-95 employment corridor.