Cornerstone Secures $3M Acquisition Loan for Taunton MF Asset
Cornerstone Realty Capital has secured a $3.4 million acquisition loan for a 30-unit multifamily property in Taunton, MASS.
Located just south of Boston, the property was constructed in 1987 and consists of a mix of one- and two-bedroom units.
Cornerstone’s Patrick Brady secured the financing on behalf of the undisclosed borrower. Terms of the loan included a fixed interest rate, 24 months of interest-only payments and a 30-year amortization schedule. The borrower is planning on implementing a capital improvement program.
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.