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69 Marlborough Street

Jody Kriss Provides $33.5 Million Construction Loan For Mixed-Use Asset In Portland, CT
FINANCEDMixed-use

Jody Kriss Provides $33.5 Million Construction Loan For Mixed-Use Asset In Portland, CT

69 Marlborough Street

$33,500,000

$175/SF

Building Size

191,458 SF

Asset Type

Mixed-use

Closing

Dec 31, 2024

AI

The asset involved in the transaction is a mixed-use property located at 69 Marlborough Street, Portland, CT, comprising a total square footage of 191,458. The loan amount arranged for this construction financing is $33,500,000.

Summary of transaction details:

Key individuals involved in the deal include Jody Kriss as the lender, while the representation of the deal was carried out by John Harrington from HKS Real Estate Advisors, ensuring all aspects of the transaction were managed effectively.

Players

John Harrington

HKS Real Estate Advisors

Broker

$104.2M

vol

6 deals

Broker

Portland Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.47%

Cash-on-Cash

-0.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93