Cornerstone Realty Arranges $8.5M Loan for Office Building in Boston

by David Cohen

BOSTON — Cornerstone Realty Capital has arranged an $8.5 million loan for the refinancing of a mid-rise office building in Boston near transit hub South Station. The borrower, a long-time owner of the property was not disclosed. The lender was a local savings bank. Cornerstone delivered a non-recourse, fixed-rate loan with a two-year interest-only period followed by a 30-year amortization. The brick building was built in 1899 and fully renovated in 2013. It contains approximately 36,500 of rentable square feet with offices ranging in size from 1,000 square feet to 4,700 square feet. Tenants include a number of technology companies and an art design firm.

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