2005 Transactions
Tremont Structures $22,325,000
Capitalization of a 58-Unit Condo Project
David
Ross, a Managing Director in Tremont Realty Capital's Boston
office structured $22,325,000 of construction debt and mezzanine
debt for the construction of Conant Crossing, a 58-unit
condo project located Concord, MA. The financing consisted
of an $18,800,000 construction loan and $3,525,000 of mezzanine/equity.
The construction loan was priced at Libor +185 bps and the
mezzanine/equity was very competitive. Both the senior lender
and the mezzanine/equity source recognized the strength
of the Concord residential market and the expertise of the
Borrower.
The project is being built on 2.33 acres of
land and will include 58 two and three bedroom units, as
well as 96 covered parking spaces and 30 exterior spaces.
It is conveniently located just outside of West Concord
town center in close proximity to the commuter rail.
For additional information on this transaction,
please contact:
David Ross
Managing Director
Email: dross@tremontcapital.com
Phone: 617.867.0700 x773
-copy.gif)
