Brett Pagani, senior vice president of Cornerstone Realty Capital, arranged $1.55 million in financing on behalf of UEP Living Two LLC. The funds will be used to acquire a three-unit property. The property features 3 three-bedroom apartments that include two bathrooms in each unit.
The past few years have seen South Boston transform itself into one of the most iconic and sought after neighborhoods in Boston. The property is located within immediate walking distance of an MBTA bus route which gives tenants direct access to either Downtown Boston or Broadway Train Station on the MBTA Red Line.
Locally, South Boston offers no shortage of recreational or entertainment opportunities, including a multitude of dining and retail options as well as the shoreline of Pleasure Bay.
"The South Boston neighborhood has really proven itself in recent years as one of Boston's strongest performing markets" said Pagani. "Cornerstone was able to leverage that strength and the Sponsor's own recognition of quality and expertise to generate interest from a multitude of lenders."
Cornerstone was able to deliver an aggressive floating rate structure and a 30 year amortization.
Cornerstone specializes in structuring and sourcing innovative financing for all property types.