Tremont Realty Capital arranged capital for the refinance and horizontal development of the Ashland Rail Transit District site, a proposed mixed-use development. The project is permitted for over 500 apartments and condominiums as well as future commercial and retail. Dennis Walsh, a senior director with Tremont, arranged the $6.25 million financing, which was funded by a private lender.
Walsh said, "We assisted the borrower in refinancing his existing debt and providing capital for A&E work in order to complete necessary infrastructure to the site. The multi-family favored product type, excellent location at an existing commuter rail station, and strong sponsorship, were all factors in making this an attractive opportunity."
Tremont Realty Capital is a national real estate investment and advisory firm, which provides senior, bridge and mezzanine loans, as well as preferred and JV equity. The Boston office of TremontRealty Capital is located at 30 Federal St., Boston.