12 Arnold Circle
Update
12/31/19
Cambridge Property Refinanced for 8.229 Million
The property at 12 Arnold Circle in Cambridge, MA has been refinanced by KEMS via North Shore Bank for $8.229 million. This senior construction loan was arranged by FinanceBoston. The property features a four-story apartment building at the end of a cul-de-sac off Massachusetts Ave, three blocks from City Hall. The 12-unit 11,944 square foot building has been unoccupied since at least 2012. The plans for the new project call to gut the structure and begin building 12 new luxury condominiums to replace what the city had called a dangerously dilapidated structure.
“The financing was completed with a local bank who saw the vast potential for the site and who was well aligned with my client’s vision for the rehabilitation of this property, “ said Doug Landry, Principal at Boston-based FinanceBoston. “I expect the sell-out to go very quickly for this one-of-a-kind location.”
FinanceBoston, a real estate capital advisory firm, provides real estate operators & developers with custom capital solutions for acquisitions, developments and refinances. Founded in 2004, FinanceBoston has earned a loyal client base that continually relies on the firm’s creative capital advisory solutions for both debt and equity needs.
