Cornerstone Realty Consultants arrange $2.8m development loan

Cornerstone Realty Consultants arranged a $2.8 million loan for its client allowing for the financing of a nearly completed 8 unit apartment development. The property is located in a residential neighborhood in between Commonwealth Ave. and Brighton Ave. providing easy access to the T and major commuting routes. Cornerstone was able to assist the borrower in obtaining the debt by structuring a 7 year fixed rate loan at an attractive 5.8% interest rate with a 30 year amortization. The total loan commitment equated to a loan-to-value of 80%. Brett Pagani and Paul Natalizio of Cornerstone assisted on this loan. Cornerstone specializes in structuring and sourcing innovative financing for all property types. In addition, Cornerstone provides 1031 exchange consulting and acquisition services.