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:
- 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.
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