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Dov Hertz Of DH Property Holdings Secures $19.2M Construction Loan From Matt Toms In Chelmsford

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FINANCED
$19,200,000

Massachusetts

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Development Site100,000 SF
Financed 02/14/2025
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FINANCED

Dov Hertz Of DH Property Holdings Secures $19.2M Construction Loan From Matt Toms In Chelmsford

270 Billerica Road

See Similar Deals
Development Site100,000 SF
Financed 02/14/2025
the dealplayerscompscontact
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Summary

MASSACHUSETTS
Asset Type:Development Site
Price Per Square Foot:$192
Total Square Footage:100,000 SF
Transaction Type:Loan

A development site located at 270 Billerica Road, Chelmsford, MA, has a total square footage of 100,000 and is currently vacant. The transaction involves a construction loan amounting to $19,200,000, aimed at demolishing the existing office structure and building a new warehouse that will include office space, 13 loading docks, and 181 parking spaces.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $19,200,000
  • Lender: Matt Toms - Voya Investment Management
  • Landlord: Dov Hertz - DH Property Holdings
  • Loan Type: Construction

The construction loan secured by DH Property Holdings from Voya Investment Management is intended for the redevelopment of the site, indicating a strategic move to enhance the property's utility and functionality within the Chelmsford market.

Players

Voya Investment Management
Voya Investment Management
LENDER

Details

FINANCED
IMAGE: Matt Toms & Dov Hertz DATE: 02/14/2025 ADDRESS: 270 Billerica Road MARKET: Chelmsford, MA ASSET TYPE: Development Site ~ SF: 100,000 LENDER: Matt Toms - Voya Investment Management (@VoyaInvestments) LANDLORD: Dov Hertz (@DovHertz) - DH Property Holdings LOAN AMOUNT: $19,200,000 LOAN TYPE: Construction NOTE: DH Property Holdings secured a $19.2M construction loan from Voya Investment Management to demolish a 100,000-sf vacant office at 270 Billerica Road, Chelmsford, and build a warehouse with office space. The project includes 13 loading docks and 181 parking spaces.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$19,200,000.00

Monthly NOI$128,000.00
Monthly Debt Service$121,357.06
Change in Cash Flow$0.00
Refinance Proceeds$0.00