FinanceBoston has arranged a $2.41 million construction loan for a 7-unit condo development project in East Boston. The project will include the demolition of the existing structure to erect a new 4-story, 7-unit condo building with 5 rear parking spaces. The property is located in East Boston’s thriving Eagle Hill District, an area seeing waves of new construction and redevelopments that are driving the neighborhood’s housing market forward.
“This project was structured with a local bank and a FinanceBoston-led preferred equity tranche, to provide a highly attractive capital structure for our long-term client,” said Doug Landry, Partner at Boston-based FinanceBoston. “We are very excited to see how this development progresses and positively impacts the neighborhood”.
FinanceBoston, a real estate capital advisory firm, provides real estate operators & developers with custom capital markets solutions for acquisitions, developments and refinances. Founded in 2004, FinanceBoston has earned a loyal client base that continuously relies on the firm’s creative capital advisory solutions for both debt and equity needs.
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