Greystar Secures $55M Loan From BayernLB For Development Site In Boston
212 Stuart Street
$55,000,000
Building Size
—
Asset Type
Development Site
Closing
May 15, 2024
AI
The development site at 212 Stuart Street in Bay Village, Boston, MA has secured a $55 million mortgage from BayernLB. The property features 126 luxury apartments, as well as over 1,200 square feet of retail space. Positioned at the junction of Bay Village and Boston's High Spine, 212 Stuart blends modernity with the historic charm of its surroundings.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $55,000,000
- Landlord: Bob Faith - Greystar
- Lender: BayernLB
- Address: 212 Stuart Street, Boston, MA
- Market: Boston, MA
- Asset Type: Development Site
Bob Faith, representing Greystar, secured the $55 million mortgage from BayernLB for the new construction project at 212 Stuart Street. The deal involves bringing forth a harmonious blend of luxury living spaces and commercial offerings to enrich the Bay Village neighborhood and Boston's High Spine area.
Players
Boston 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
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93