Brian Rooney Of Finance Boston Secures $5.9M Construction Loan For Development Site In Somerville, MA
FINANCED
$5,944,500
Massachusetts
See Similar DealsDevelopment Site
Financed 06/13/2023
FINANCED
Brian Rooney Of Finance Boston Secures $5.9M Construction Loan For Development Site In Somerville, MA
394 McGrath Hwy Somerville, MA 02143, USA
See Similar DealsDevelopment Site
Financed 06/13/2023
Summary
MASSACHUSETTS
Asset Type:Development Site
Transaction Type:Loan
The development site located at 394 McGrath Highway in Somerville, MA has recently secured a construction loan. The loan amount for this project is $5,944,500. The loan type is specifically for construction purposes, indicating that the funds will be used to develop and build on the site.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $5,944,500
- Address: 394 McGrath Highway, Somerville, MA
- Market: Somerville, MA
- Broker: Brian Rooney - Finance Boston
Brian Rooney from Finance Boston played a crucial role in securing the construction loan for this development site. As the broker representing the transaction, Rooney successfully facilitated the loan process and ensured that the necessary financing was obtained for the project.
Players
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,944,500.00
Monthly NOI$39,630.00
Monthly Debt Service$37,573.28
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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