AMCO Realty Holdings LLC Acquires Marina In Chelsea, MA For $5.1M With Loan From Bank Of New Hampshire

A marina located at 305 Commandants Way in Chelsea, MA has been acquired with the assistance of a loan. The property was purchased by AMCO Realty Holdings LLC, with Nelson Garcia of an undisclosed agency serving as the broker representative. The marina is situated in a prime market area, offering a unique opportunity for the new landlord.

Summary of transaction details

• Property Type: Marina
• Transaction Amount: $5,100,000
• Date: 06/04/2021
• Address: 305 Commandants Way, Chelsea, MA
• Lender: Bank of New Hampshire
• Loan Type: Acquisition
• Loan Term: 73% LTV / 3.15% Rate / 25 yr Am / 5 year fixed + 5 year floating

The loan amount for the acquisition was $5,100,000. The loan terms include a 73% loan-to-value ratio, a 3.15% interest rate, a 25-year amortization period, and a fixed rate for the first five years followed by a floating rate for the next five years. Bank of New Hampshire provided the financing for this transaction.

Nelson Garcia, representing an undisclosed agency, played a crucial role as the broker in this deal. With their expertise, they facilitated the transaction between the buyer and the lender, ensuring a successful acquisition of the marina property.