Updated Oct 29, 2024
Rockland Trust Provides $9M Loan For Development Site In Taunton, MA
1162 Bay Street, Taunton, Massachusetts, USA
$9,000,000
$3/SF
Building Size
2,613,600 SF
Asset Type
Development Site
Closing
Apr 11, 2021
About this deal
AI
A development site located at 1162 Bay Street in Taunton, MA, has been involved in a recent transaction. The property, owned by Bassett Development LLC and represented by Matthew Falconeiri, attracted a loan from Rockland Trust. John S. Davison of Rockland Trust facilitated the loan transaction.
Summary of transaction details
- Property Type: Development Site
- Loan Amount: $9,000,000
- Acres: 60
- Price per Acre: $150,000
- Units: 110
- Price per Unit: $81,818
The development site at 1162 Bay Street provides an opportunity for future development in Taunton, MA. The loan transaction, facilitated by John S. Davison of Rockland Trust, allows Bassett Development LLC to proceed with their plans for the property.
Players
Taunton Development Site Market Snapshot
Boundary boundary · Development Site · 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