{  Cambridge, MA  }

$13,880,000

Regional Bank

LTV: 65%

Cornerstone provided $13,880,000 in construction to permanent financing for a 50 room hotel with three retails spaces in Porter Square. A regional banking institution provided 75% loan-to-cost that was subject to a 65% as-completed LTV. The loan provided the borrower with 2 years of interest only to construct the building which converts to a fixed rate upon stabilization.