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FinanceBoston Arranges a $5,520,000 Loan and $1,700,000 equity for a 48-Unit Apartment Property in Cranston, RI.

 | Commercial Real Estate Loans Miami Florida

RHODE ISLAND - FinanceBoston has arranged $5,520,000 in debt and $1,700,000 in equity to acquire and renovate a multifamily apartment community in Cranston, Rhode Island.  The property, Dean Estates, consists of 48-units with a mix of 1 and 2-bedroom apartments. “This acquisition reflects the strong demand for workforce housing in New England,” said Brian Rooney, Principal at FinanceBoston. “Our client secured the property through a competitive auction process and within a relatively short timeline of 45 days, we were able to secure both construction financing and equity for the...

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