BOSTON – FinanceBoston is pleased to announce the successful arrangement of a $16,000,000 refinance loan for 218–220 Old Colony Avenue, a newly constructed mixed-use property in South Boston featuring 34 residential rental units and ground-floor retail space.
The property, delivered in 2024 by a highly experienced sponsor with a track record of building high-quality urban infill projects, offers a mix of modern studio, one-bedroom, and two-bedroom apartments, along with well-positioned retail space serving the vibrant Old Colony corridor.
“This execution reflects strong lender appetite for stabilized, well-located multifamily assets in core Boston submarkets,” said Shane Carthy, Principal at FinanceBoston. “Our team was able to structure competitive permanent financing that supports the sponsor’s long-term ownership strategy while optimizing proceeds and rate.”
The refinance strengthens the property’s capital structure, enabling the sponsor to lock in favorable terms and maximize asset performance in a rapidly evolving interest-rate environment.
FinanceBoston continues to provide outcome-driven capital solutions for developers and operators across Greater Boston, with deep expertise in multifamily and mixed-use transactions.
Refinance
