Phoenix Realty Management Secures $6.2 Million Loan For Medical Office In Wethersfield, CT
1210 Silas Deane Highway
$6,200,000
$155/SF
Building Size
40,000 SF
Asset Type
Medical Office
Closing
May 20, 2025
AI
A loan amounting to $6,200,000 was arranged for a 40,000-SF medical office located at 1210 Silas Deane Highway in Wethersfield, CT. The property, built in 2022, is associated with Starling Physicians and benefits from a 25-year loan term.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $6,200,000
- Address: 1210 Silas Deane Highway
- Market: Wethersfield, CT
- Asset Size: 40,000 SF
- Landlord: Phoenix Realty Management
- Brokers: Andrew Stewart, Brandon Szwalbenest & Dev Morris - Cronheim Mortgage
- Loan Terms: 25-year loan
Cronheim Mortgage played a key role in facilitating this financing arrangement, representing the interests of both the lender and the landlord, Phoenix Realty Management, throughout the transaction process.
Players
Wethersfield Medical Office Market Snapshot
Boundary boundary · Medical Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.56%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93