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Boston & New England  + Boston  |  November 6, 2019
David Cohen
By: David Cohen

Berkadia Secures $50M Acquisition Loan for Metro Boston MF Property

Berkadia has arranged $49.7 million in acquisition financing for Riverbend on the Charles, a 170-unit multifamily community in the Boston suburb of Watertown.

Built in 2014, the property is located at 270 Pleasant St. and consists of studios, one and two-bedroom units. Features include stainless steel appliances, hardwood flooring, quartz countertops, espresso stained wood cabinetry, washer/dryer and walk-in closets. Amenities include a clubhouse with billiards room, bike storage room, solar panel heated pool, fitness center, storage units and a dog park.

Charles Foschini and Christopher Apone of Berkadia’s Miami office arranged the loan on behalf of Harbor Group International, a global real estate and investment firm based in Norfolk, Virginia. PNC Bank originated the 7-year, fixed rate loan with partial interest only payments.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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