FinanceBoston has arranged a senior construction loan of $17,510,000, paired with a strategic joint venture with an investment of $2,625,000 for a project with 72 proposed condo units in Revere, MA.
“The financing was completed with competitive terms from a highly trusted, repeat equity source who saw my client’s vision for the property“ said Doug Landry, Partner at FinanceBoston. “There is virtually no newly constructed condo inventory in Revere, and so I have no doubt that this project will be highly successful which is part of the reason why we co-invested here as well.”
“We have a lot of experience executing on similar adaptive reuse projects like this, most recently 932 Broadway and The Cathedral in Chelsea” added Mikael Vienneau, Managing Director at Broadway Capital. “I am excited to help create over 70 new housing units, including 7 affordable units, in a market that is currently only delivering rental units.”
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.
