BOSTON — FinanceBoston has arranged an $11,000,000 Acquisition & Construction Loan for a Ground Up Condo Development in Wakefield, MA. Previously an underutilized light industrial building, the 1+ acre parcel that sits on the border with Lynnfield will be redeveloped into a 41k SF four-story condo complex. The 30 residences range from 1, 2, and 3 bedroom units with garage parking and an elevator.
“The project is a prime example of eliciting a property’s highest and best use.” said Brian Rooney, Senior Associate at FinanceBoston. “It’s in a great location, in a great town, and less than a ¼ mile from the I-95 on ramp and only 20 minutes from Boston. The developer has a great track record and I’m looking forward to following the project through to completion and seeing the finished product.”
FinanceBoston, a real estate capital advisory firm, provides real estate operators & developers with custom capital 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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