Updated Feb 5, 2025
IQHQ Secures $486.5M Loan From Citizens Bank For Development Site In Allston
155 North Beacon Street
$486,511,959
$1/SF
Building Size
486,511,959 SF
Asset Type
Development Site
Closing
Feb 4, 2025
About this deal
AI
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
Brighton 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
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93