BOSTON — FinanceBoston has arranged $12,000,000 in debt for pre-development activities of a 273-unit project in the Hyde Park neighborhood of Boston. Previously used as light industrial, the 2.7 acre transit-oriented-development will kick start the repurposing of under-utilized industrial land adjacent to Readville MBTA train station.
“This cash out refinance was structured in two loans”, said Brian Rooney, Senior Associate at FinanceBoston. “A $9mil mortgage and a $3mil line of credit, both with the same lending institution at a competitive rate. This structure was customized to meet the needs of our client. The line of credit provides flexibility and access to funds when needed, but not paying interest when not”.
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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