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Cornerstone Realty Capital Arranges $12M In Acquisition Financing For Woburn Apartments

Jul 11, 2014 | Reprints | Unlock Link | Print

Lexington-based Cornerstone Realty Capital has arranged $12.35 million in financing for its client, Lakeside University Apartments LLC, to acquire a 92-unit apartment community in Woburn.

University Apartments, located at 48 Lake Ave., is approximately 2.48 acres in size, with 58,232 square feet of net rentable area. It is comprised of 8 three-story buildings, and the unit mix consists of three two-room studios, one one-room studio, 44 one-bed units and 44 two-bed units.

The property is fewer than 10 miles from downtown Boston with quick access to Interstate-93 and Interstate-95. Nearby retailers include Super Stop and Shop, CVS and Capital Grille.

Commercial