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Principal Real Estate Investors Acquires Medical Office In Natick, MA For $24.9M

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SOLD
$24,875,000

Massachusetts

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Sold 01/14/2022
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Property Image
SOLD

Principal Real Estate Investors Acquires Medical Office In Natick, MA For $24.9M

313 Speen Street, Natick, MA 01760

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Sold 01/14/2022
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Summary

MASSACHUSETTS
Transaction Type:Sale

The property involved in this closed transaction is a Medical Office located at 313 Speen St in Natick, MA. The sale of the property took place on 01/14/2022, with the buyer being Principal Real Estate Investors and the seller being Shields ASC. The transaction was facilitated by brokers Robert Griffin, Frank Nelson, and Michael Greeley from Newmark. The sale price for the property was $24,875,000.

Summary of transaction details

The individuals and companies involved in this transaction are Principal Real Estate Investors, the buyer, and Shields ASC, the seller. The deal was facilitated by brokers Robert Griffin, Frank Nelson, and Michael Greeley from Newmark. They played a crucial role in ensuring a successful transaction between the buyer and seller.

Players

Frank Nelson
9 deals$442.5M volume
BROKER

Robert (Rob) Griffin
Newmark
72 deals$7.3B volume(617) 863-8611
BROKER

Michael (Mike) Greeley
Newmark
19 deals$833M volume
BROKER

Principal Real Estate Investors
BUYER

Details

SOLD
IMAGE: Robert Griffin, Frank Nelson & Michael Greeley DATE: 01/14/2022 ADDRESS: 313 Speen St MARKET: Natick, MA ASSET TYPE: Medical Office BUYER: Principal Real Estate Investors SELLER: Shields ASC BROKER: Robert Griffin, Frank Nelson, Michael Greeley - Newmark SALE PRICE: $24,875,000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,326,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$88,375.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$117,920.19
Annual Debt Service$1,415,042.29