Doug Landry Of LandUP Capital Provides $10.82M Construction Loan To Bandar Development In Worcester MA
1511 Main Street
$10,819,000
$180/SF
Building Size
60,000 SF
Asset Type
Condo
Closing
Mar 6, 2025
AI
The property asset involved in the transaction is a condo located at 1511 Main Street, Worcester, MA. The condo has a square footage of 60,000 and is part of a construction loan transaction valued at $10,819,000.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $10,819,000
- Lender: Doug Landry - LandUP Capital
- Landlord: Bandar Development
- Loan Type: Construction
- Loan Date: 03/06/2025
Doug Landry, who represents LandUP Capital as the lender, is the key financial figure in this deal, while Bandar Development is noted as the landlord involved in the transaction.
Players
Worcester Condo Market Snapshot
Boundary boundary · Condo · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.47%
Cash-on-Cash
-0.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93