PGIM Real Estate Acquires Boston Property At 99 Kneeland St For $144.5M
SOLD
$144,500,000
Massachusetts
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PGIM Real Estate Acquires Boston Property At 99 Kneeland St For $144.5M
99 Kneeland St, Boston, MA, 02111
See Similar DealsSummary
MASSACHUSETTS
Transaction Type:Sale
The property located at 99 Kneeland St, Boston, MA, 02111 was transacted for $144,500,000.00. This transaction occurred in the Boston market and involved a total square footage of 0.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $144,500,000.00
- Address: 99 Kneeland St, Boston, MA, 02111
- Market: Boston
- Seller's Representatives: Mark Campbell-HFF, Matthew Lawton-JLL, Chris Phaneuf-Berkadia
- Buyer: PGIM Real Estate
This transaction was facilitated by multiple seller representatives, specifically Mark Campbell from HFF, Matthew Lawton from JLL, and Chris Phaneuf from Berkadia, who played key roles in the deal's completion. The buyer, PGIM Real Estate, is noted for their involvement in this significant market acquisition.
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BUYER
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,706,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$513,377.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$685,003.72
Annual Debt Service$8,220,044.65
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