June 24, 2019
Boston Realty Advisors arranged a $30.9 million construction loan for the ground up redevelopment of 21 E. St. in North Attleborough. The apartment community will consist of 193 market-rate units and 11,500 square feet of retail.
The redevelopment will replace the former L.G. Balfour Building in downtown North Attleborough. The site is situated in one of the two designated North Attleborough Opportunity Zones, and is supported by the local municipality. The transit-oriented development sits on 4.3 acres and will include a fitness facility, a new restaurant, outdoor parking and shuttle service to multiple MBTA stations. The development is slated for completion in 2020.
Boston Realty Advisors secured the five-year loan on behalf of the borrower, Jones Street Investment Partners. The lender was Cambridge Savings Bank.
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