Boston & New England CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


Boston & New England  + Massachusetts  + Apartments  | 

CRC Secures $53M Construction Loan for Shrewsbury MF Property

Cornerstone Realty Capital has secured a $53.3 million construction loan for Edgemere Crossing, a 250-unit multifamily project in Shrewsbury, MASS.

Located nearby Worcester, the property is slated to consist of 116, one-bedroom units and 134 two-bedroom units. Planned amenities will consist of a conference center, kitchen room, fitness center, dog park, pool and a resident clubhouse. Furnishings will include stainless steel appliances, granite countertops and vinyl plank flooring.

Cornerstone provided the financing to the borrower, a joint venture between The Dolben Co. Inc. and Belmont Capital. Terms of the loan included a floating interest rate, 36 months of interest-only payments and a 30-year amortization schedule. The project is expected to be completed by the first quarter of 2023.


Inside The Story


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.