Boston Realty Advisors Secure $30M Construction Loan for MXU Redevelopment
Boston Realty Advisors arranged a $30.9 million construction loan for the ground up redevelopment of 21 E. St. in North Attleborough. The apartment community will consist of 193 market-rate units and 11,500 square feet of retail.
The redevelopment will replace the former L.G. Balfour Building in downtown North Attleborough. The site is situated in one of the two designated North Attleborough Opportunity Zones, and is supported by the local municipality. The transit-oriented development sits on 4.3 acres and will include a fitness facility, a new restaurant, outdoor parking and shuttle service to multiple MBTA stations. The development is slated for completion in 2020.
Boston Realty Advisors secured the five-year loan on behalf of the borrower, Jones Street Investment Partners. The lender was Cambridge Savings Bank.
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.