Stephen Ballas Secures $16.5 Million Construction Loan From FinanceBoston For Development Site In Somerville
FINANCED
$16,500,000
Massachusetts
See Similar DealsDevelopment Site
Financed 10/24/2025
FINANCED
Stephen Ballas Secures $16.5 Million Construction Loan From FinanceBoston For Development Site In Somerville
366 Broadway
See Similar DealsDevelopment Site
Financed 10/24/2025
Summary
MASSACHUSETTS
Asset Type:Development Site
Transaction Type:Loan
The asset involved in this transaction is a development site located at 366 Broadway in Somerville, MA. The site has a building square footage of 49,900 and is financed through a construction loan amounting to $16,500,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $16,500,000
- Lender: FinanceBoston
- Landlord: Stephen Ballas
- Loan Type: Construction
- Date: 10/24/2025
Key individuals involved in the transaction include Anna Napadiy and Shane Carthy, who are presumably associated with the financing and development aspects of this deal. Their roles contribute to facilitating the logistics surrounding the construction loan.
Players
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$16,500,000.00
Monthly NOI$110,000.00
Monthly Debt Service$104,291.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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