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212 Stuart Street

Greystar Secures $55M Loan From BayernLB For Development Site In Boston
FINANCEDDevelopment Site

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:

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

BayernLB
BayernLBLender

Boston Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

Loading comparables…

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