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101 College Street, New Hav...

Webster Bank Provides $180M Construction Loan For Office Building At 101 College Street In New Haven, CT
FINANCEDOffice

Webster Bank Provides $180M Construction Loan For Office Building At 101 College Street In New Haven, CT

101 College Street, New Haven, CT, USA

$180,000,000

$342/SF

Building Size

525,000 SF

Asset Type

Office

Closing

Jul 9, 2020

AI

Located at 101 College Street in New Haven, CT, this transaction involves an office property spanning 525,000 square feet. The asset, an office building, is owned by Harrison Street and Winstanley Enterprises.

Summary of transaction details

CBRE brokers Heather Brown, Robert Borden, and Grace Keating represented the parties involved in this deal. The loan, provided by Webster Bank, amounts to $180,000,000 and is classified as a construction loan.

Players

Heather Brown

CBRE

Broker

$180M

vol

6 deals

Broker
Webster Bank
Webster BankLender

Harrison Street

Winstanley Enterprises

Landlord

$604.1M

vol

11 deals

Landlord

New Haven Office Market Snapshot

Boundary boundary · Office · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.09%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93