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Northland Secures $220 Million Construction Loan From J.P. Morgan Chase For Development Site In Newton
FINANCED
$220,000,000
Massachusetts
See Similar DealsDevelopment Site
Financed 01/05/2026
FINANCED
Northland Secures $220 Million Construction Loan From J.P. Morgan Chase For Development Site In Newton
156 Oak Street
See Similar DealsDevelopment Site
Financed 01/05/2026
Summary
MASSACHUSETTS
Asset Type:Development Site
Transaction Type:Loan
The asset involved in this transaction is a development site located at 156 Oak Street in Newton, MA, covering an area of 22.66 acres. The transaction involves a construction loan of $220,000,000 secured by Northland to facilitate the mixed-use project that has been planned since 2018.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $220,000,000
- Lender: J.P. Morgan Chase
- Landlord: Matthew Gottesdiener - Northland
- Market: Newton, MA
- Loan Type: Construction
- Acreage: 22.66
Key individuals in this transaction include Matthew Gottesdiener, representing Northland as the landlord. The lender involved is J.P. Morgan Chase, which provided the construction loan necessary for the development project.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$220,000,000.00
Monthly NOI$1,466,666.67
Monthly Debt Service$1,390,549.65
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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