Updated Oct 29, 2024
Home City Development, Inc Secures $1.8M Loan From MassHousing For Development Site In Springfield, MA
367 Hancock Street, Springfield, Massachusetts, USA
$1,800,000
$23/SF
Building Size
77,972 SF
Asset Type
Development Site
Closing
Mar 21, 2021
About this deal
AI
Home City Development, Inc, represented by Tom Kegelman, has secured a loan from masshousing''>MassHousing, represented by Chrystal Kornegay, for the development site located at 367 Hancock Street in Springfield, MA. The loan amount for this transaction is $1,800,000.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $1,800,000
- Address: 367 Hancock Street, Springfield, MA
- Market: Springfield, MA
Tom Kegelman, representing Home City Development, Inc, acted as the landlord in this deal. Chrystal Kornegay, representing MassHousing, provided the loan to finance the development site. This transaction took place on March 22, 2021.
Players
Springfield Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Deal FAQ
Browse Massachusetts development site loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93