Updated May 21, 2025
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
About this deal
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.
On the Map
$6,200,000
$155/SF
Medical Office
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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