According to Fish, "Our borrower was able to maximize cash flow due to the 'interest only' feature of this loan which is somewhat unusual for a securitized fixed-rate loan."
The buildings total 48 units with 18 studios, 29 one-bedrooms and one two-bedroom. They were originally constructed in the early 1900s and underwent a complete renovation by the current owner in the mid 1980s. Forest Properties Management serves as manager. The apartments are located in the Fenway neighborhood of the city, which abuts the Back Bay and the green line of the MBTA.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
