MRC originated a $165MM first mortgage loan collateralized by the 451-unit, 291,000 GSF luxury multifamily development site in the Fenway neighborhood of Boston, Massachusetts
The Property will offer efficiently furnished units and provide services including utilities, Wi-Fi, and cable, resulting in a lower effective cost of living compared to nearby Class A product, and removing a fundamental barrier to entry for those who could not otherwise afford to live in Fenway
As part of the entitlement process, the Borrower worked closely with local community organizations and agreed to build a 10,000 SF, 156-seat LGBTQ-centric theater at the base of the Property
All information is subject to market conditions and may and will change. Please contact us to discuss the specifics of your project.