September 3, 2019 Comments (0) Views: 271 Boston New England News, Metro Boston

Cornerstone Realty Secures $4M Acquisition Loan for Waltham Apartment Property

Cornerstone Realty Capital has arranged a $3.8 million acquisition loan for Lawton Place, a 12-unit townhouse-style apartment building in Waltham.

The buyer, True North Capital Partners, plans to renovate the property with internal and external cosmetic updates. Upon completion, the units will feature granite countertops, stainless steel appliances, mounted lighting, in-unit washers and dryers, and private patios off the main living space.

Paul Natalizio of Cornerstone secured the financing, which includes 36 months of interest-only payments, on behalf of the buyer through an undisclosed lender. Upon stabilization, the loan will convert to a 30-year amortization.

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