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Dinosaur Capital Partners secures $48M construction loan for Lexington apartments
The five-story project at 7 Hartwell Avenue will add 110 market-rate units plus 20 affordable apartments near Westview Cemetery.
Dinosaur Capital Partners has secured $48 million in construction financing for a new multifamily development in Lexington, Massachusetts, according to Commercial Observer.
The project, planned for 7 Hartwell Avenue, will deliver 130 apartment homes across five stories, including 110 market-rate units and 20 designated as affordable housing.
Commercial Observer reports the complex will also include 400 square feet of retail space, along with amenities such as a fitness center, yoga studio, and a coworking lounge.
Affinius Capital and Axonic Capital originated the loan, which was closed nearly a year after the lenders began a strategic partnership to pursue mid-market first mortgage financing for new development projects, Commercial Observer said.