Doug Landry Of LandUP Capital Provides $10.82M Construction Loan To Bandar Development In Worcester MA
FINANCED
$10,819,000
Massachusetts
See Similar DealsCondo60,000 SF
Financed 03/06/2025
FINANCED
Doug Landry Of LandUP Capital Provides $10.82M Construction Loan To Bandar Development In Worcester MA
1511 Main Street
See Similar DealsCondo60,000 SF
Financed 03/06/2025
Summary
MASSACHUSETTS
Asset Type:Condo
Price Per Square Foot:$180
Total Square Footage:60,000 SF
Transaction Type:Loan
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.
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Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$10,819,000.00
Monthly NOI$72,126.67
Monthly Debt Service$68,383.44
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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