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CMK Development Partners Secures $14.35 Million Loan For 57 Exchange Street Redevelopment In Worcester
FINANCED
$14,350,000
Massachusetts
See Similar DealsCommercial
Financed 11/07/2025
FINANCED
CMK Development Partners Secures $14.35 Million Loan For 57 Exchange Street Redevelopment In Worcester
57 Exchange Street
See Similar DealsCommercial
Financed 11/07/2025
Summary
MASSACHUSETTS
Asset Type:Commercial
Transaction Type:Loan
The asset involved in the transaction is located at 57 Exchange Street, Worcester, MA. This commercial property involves an acquisition loan amounting to $14,350,000. The project aims to redevelop the site into a mixed-use complex featuring 44 apartments alongside retail space.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $14,350,000
- Landlord: CMK Development Partners
- Brokers: Meghan Liddy & Chris Naff - Kelleher & Sadowsky
- Loan Type: Acquisition
Kelleher & Sadowsky arranged the financing for CMK Development Partners, facilitating the acquisition and redevelopment of the property into a multifunctional space that integrates both residential and retail components, highlighting a strategic move in downtown Worcester.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$14,350,000.00
Monthly NOI$95,666.67
Monthly Debt Service$90,701.76
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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