BOSTON — FinanceBoston has arranged a $4,237,500 construction loan and $475,000 in preferred equity for a 7-unit luxury condo redevelopment project in South Boston. The project scope includes the demolition of the existing three-family building, in order to erect a newly constructed, four-story building featuring seven (7) market-rate condo units with nine (9) on-site parking spaces. The property is located steps from M Street Beach, offering rare outdoor living space, water views, and comfortably sized units in the quiet southside of South Boston.
“This project was arranged with a local bank and a preferred equity tranch, providing a highly attractive cost of capital for our client” said Doug Landry, Partner at FinanceBoston. “We are very excited to see the transformation of the existing building into the newly built, revitalized property, adding much-needed housing stock to 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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