Boston-based developer, Longwood Group, has secured $84.3 million in total financing for Serenity, an apartment community planned in Boston’s Longwood Medical Area. The community will contain 195 units in a 15 story building with both low-and mid-rise sections and contain approximately 1,860 sqf of street-level retail. CBRE/New England’s Capital Markets arranged the financing for Longwood which closed on the construction portion this month. Building on the transit-oriented community has all ready begun.
“We were very pleased with the financing terms that CBRE produced. The ability to raise the whole capital stack was a big value-add,” commented Anthony Nader, Vice President at Longwood Group. “Serenity is well positioned to capitalize on Boston and the LMA’s unmet demand for luxury apartment living. We look forward to delivering a best-in-class product for our future residents and continuing to foster the live-work-play atmosphere that will drive Boston forward.”
