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IQHQ Secures $486.5M Loan From Citizens Bank For Development Site In Allston
FINANCED
$486,511,959
Massachusetts
See Similar DealsDevelopment Site486,511,959 SF
Financed 02/04/2025
FINANCED
IQHQ Secures $486.5M Loan From Citizens Bank For Development Site In Allston
155 North Beacon Street
See Similar DealsDevelopment Site486,511,959 SF
Financed 02/04/2025
Summary
MASSACHUSETTS
Asset Type:Development Site
Price Per Square Foot:$1
Total Square Footage:486,511,959 SF
Transaction Type:Loan
The development site located at 155 North Beacon Street in Allston, MA, encompasses an asset type designated for life sciences, with an overall square footage of 409,395. The site has secured a loan amounting to $486,511,959 from Citizens Bank.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $486,511,959
- Asset Square Footage: 409,395
- Address: 155 North Beacon Street
- Market: Allston, MA
- Lender: Citizens Bank
- Landlord: Steve Rosetta - IQHQ
In this transaction, IQHQ, represented by Steve Rosetta, secured a significant mortgage to support the development of its life science campus, highlighting the financial backing from Citizens Bank for this substantial project.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$486,511,959.00
Monthly NOI$3,243,413.06
Monthly Debt Service$3,075,086.52
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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