Updated Oct 28, 2024
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
About this deal
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
- Property Type: Office
- Transaction Amount: $180,000,000
- Date: 07/09/2021
- Market: New Haven, CT
- Landlord: Harrison Street & Winstanley Enterprises
- Lender: Webster Bank
- BROKERS: Heather Brown (CBRE), Robert Borden (CBRE), Grace Keating (CBRE)
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
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