BOSTON – FinanceBoston has arranged a $1,600,000 senior debt loan for the refinance of the eight-unit multi-family property located at 116 Wales Street, Boston, MA.

FinanceBoston arranged the original acquisition financing for the property in January 2025. Upon acquisition, the sponsor improved the property with approximately $200,000 in renovations, replaced the under-market rents, and nearly doubled gross rental income. Five of the fully renovated units now feature new cabinets, flooring, kitchens, appliances, granite countertops, tiled bathrooms, and a few window replacements. The cosmetic work to the common areas is complete, and exterior painting has been completed. The refinance of the property will enable the sponsor to refinance out of the existing loan into permanent bank financing.

“I am very happy we were able to bring this deal across the finish line,” said Caitlyn Feeney, Associate at FinanceBoston. “With massive redevelopments underway throughout Dorchester and a prime location for city commuters, the property is in a perfect location for continued market growth.”

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.