BOSTON – FinanceBoston has successfully arranged $12,760,000 in senior debt and $3,870,000 in preferred equity for the development of a 34-unit condominium project at 9 Taylor Street in Somerville, MA.
The project, led by an experienced sponsor with a consistent track record of delivering high-quality infill developments across Greater Boston, will bring a mix of 27 market-rate and 7 affordable units to a tightly supplied neighborhood. The unit mix includes thoughtfully designed studios, one-bedroom, and two-bedrooms, appealing to a diverse range of urban homebuyers.
“In an environment where equity capital has become increasingly selective, this execution reflects continued appetite for well-located, transit-oriented residential product backed by proven sponsorship,” said Shane Carthy, Principal at FinanceBoston. “We were able to align the project with long-term capital partners who value the sponsor’s performance history and disciplined approach to risk.”
With full entitlements secured and construction set to begin imminently, the project will add much-needed housing stock in one of the most dynamic residential markets in the region. The financing structure was tailored to support efficient execution while balancing investor protections and development flexibility.
FinanceBoston continues to advise on capital placements across all asset classes, with a focus on delivering outcome-driven solutions for developers and operators navigating a rapidly evolving real estate capital landscape.
