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Boston & New England  + Boston  + Apartments  |  September 16, 2019
David Cohen
By: David Cohen

Cornerstone Secures $9M Construction Loan for Hyde Park MF Property

Cornerstone Realty Capital has arranged an $8.5 million construction loan for the Residences at Hyde Park Station, a 24-unit multifamily property in Boston’s Hyde Park.

The property will consist of all two-bedroom, two-bathroom units, as well as one 300-square-foot commercial space. Units will feature stainless steel appliances, quartz countertops, wood flooring and central air conditioning. Additional features will include USB ports in all kitchens and bedrooms, package lockers, a City Lift parking system and a common area roof deck.

Patrick Brady of Cornerstone secured the financing on behalf of the developer, HHC One Grant LLC. Terms of the loan included a fixed interest rate with a seven-year term and a 30-year amortization schedule. The lender was not disclosed.

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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