Dinosaur Capital, Oaktree Development secure $30m for Newtonville project

A joint venture between Dinosaur Capital Partners and Oaktree Development has secured a $30.167m construction loan for a mixed-use project. The scheme will be located above the City of Newton’s Austin Street Municipal Parking Lot within the village of Newtonville in Newton, Massachusetts. Plans for 28 Austin Street Apartments call for 68 luxury one- and two-bedroom apartment homes, of which 23 will be affordable, 5,000 sq ft of ground-floor retail space, a new public plaza and a reconstructed 124-space municipal parking lot. The project is slated for completion next spring. Holliday Fenoglio Fowler worked on behalf of the borrower's to source the loan through Eastern Bank.