Jody Kriss Provides $33.5 Million Construction Loan For Mixed-Use Asset In Portland, CT
FINANCED
$33,500,000
Connecticut
See Similar DealsMixed-use191,458 SF
Financed 12/31/2024
FINANCED
Jody Kriss Provides $33.5 Million Construction Loan For Mixed-Use Asset In Portland, CT
69 Marlborough Street
See Similar DealsMixed-use191,458 SF
Financed 12/31/2024
Summary
CONNECTICUT
Asset Type:Mixed-use
Price Per Square Foot:$175
Total Square Footage:191,458 SF
Transaction Type:Loan
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:
- Property Type: Mixed-use
- Transaction Amount: $33,500,000
- Lender: Jody Kriss
- Broker: John Harrington - HKS Real Estate Advisors
- Loan Type: Construction
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$33,500,000.00
Monthly NOI$223,333.33
Monthly Debt Service$211,742.79
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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