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News: Front Section
Posted: June 3, 2016
Cornerstone Realty Capital arranges $1.44 million for Everett acquisition
135 Broadway - Everett, MAEverett, MA Cornerstone Realty Capital arranged $1.44 million for the acquisition of a multifamily property. The 14-unit building consists of 2 studio and 12 one-bedroom apartments. The 3 story building is located at 135 Broadway on the corner of Broadway and Beachman St.
Brett Pagani, senior vice president of Cornerstone, said, “Having worked with the borrower in the past, we were aware of the value they would be able to add to the property. Paired with the property’s location, and its proximity to Boston, we were confident the asset would draw lender interest and allow us to secure the best deal available in the marketplace.”
Brett Pagani, Cornerstone Realty CapitalLocated north of the Mystic River, Everett is a working class community with direct access to Boston. Everett has a diversified industrial and commercial base offering employment opportunities in both the manufacturing and service industries. Gateway Center is 1.3 miles away offering large retail and dining options including Target, Costco, and TGI Fridays. The city has nearby access to I-93 and 95, and includes service by the MBTA. The Orange Line train can be accessed 2 miles away at the Wellington stop, providing direct access to public transportation that runs throughout the Greater Boston Area.
Cornerstone specializes in structuring and sourcing innovative financing for all property types.
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