Updated Oct 28, 2024
V10 Development Acquires Residential Property In Everett, MA For $9M Loan
114 Spring Street, Everett, Massachusetts 02149, United States
$9,000,000
Units
385
Asset Type
Co-Op
Closing
Apr 7, 2022
About this deal
AI
Located at 114 Spring St in Everett, MA, this residential property was recently involved in a closed transaction. The property, consisting of 385 units, was acquired by V10 Development, a prominent player in the real estate market. The deal was facilitated by Cornerstone Realty Capital, with Paul Natalizio representing the buyer as their broker.
Summary of transaction details
- Property Type: Residential
- Transaction Amount: $9,000,000
- Loan Type: Acquisition
With a loan amount of $9,000,000, this acquisition deal enabled V10 Development to add this residential property to their portfolio. Cornerstone Realty Capital played a crucial role in bringing the buyer and seller together, with Paul Natalizio serving as the broker for V10 Development in this transaction.
Players
Everett Co-Op Market Snapshot
Boundary boundary · Co-Op · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93