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Curtis R. Kemeny Of Boston Residential Group Secures $90M Loan For Development Site In Boston
FINANCED
$90,000,000
Massachusetts
See Similar DealsDevelopment Site
Financed 10/03/2024
FINANCED
Curtis R. Kemeny Of Boston Residential Group Secures $90M Loan For Development Site In Boston
55 India Street
See Similar DealsDevelopment Site
Financed 10/03/2024
Summary
MASSACHUSETTS
Asset Type:Development Site
Transaction Type:Loan
The property asset involved in this transaction is a development site located at 55 India Street in Boston, MA. The development will consist of a 12-story condominium tower, which will include 29 units and a 4,000-square-foot restaurant space. The total loan amount secured for this development is $90,000,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $90,000,000
- Address: 55 India Street
- Market: Boston, MA
- Lender: Bank OZK & Hickory CRE Lending
- Landlord: Curtis R. Kemeny - Boston Residential Group
Curtis R. Kemeny represents Boston Residential Group in this financing effort, securing the funds necessary for the construction of the condominium and restaurant project, which marks the last open development site on Boston's Greenway.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$90,000,000.00
Monthly NOI$600,000.00
Monthly Debt Service$568,861.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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