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Cornerstone Realty Arranges Financing For Multi-Use Boston Building

Mar 14, 2014 | Reprints | Unlock Link | Print

Cornerstone Realty Capital recently arranged $3.15 million in financing for a client to build a mixed-used building in Boston.

The client, LEOVOFS LLC, will use the funds to demolish an existing structure at 15 Dana Ave. and construct a new 11-unit building. The new building will include two commercial units and nine residential units, including three four-bedroom, two-bathroom units and six two-bedroom, two-bathroom units.

"We were confident the borrower’s solid development experience and the project’s strategic position within a strengthening market would be attractive to lenders and allow us to deliver the best deal in the marketplace," Brett Pagani, senior vice president of Cornerstone, said in a statement.

Commercial