BOSTON — FinanceBoston has arranged a $4.5 million construction loan for the ground-up development of a 9-unit luxury rental project in Dorchester. The project will comprise of 7 large townhomes and 2 apartment flats, with eleven parking spaces. The property is located on Centre Street, steps from the Shawmut T station on the Red Line.
“The financing was completed with competitive terms from a local bank who saw my client’s vision for the property“ said Brian Rooney, Associate at FinanceBoston. “In Dorchester there’s a shortage of new construction rental apartments outside of the high cost/high amenity buildings. I expect the lease-up to go very quickly for this location, and look forward to working with this team again in the future.”
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.
