Bank OZK Provides $246M Construction Loan For Development Site In Somerville, MA

The development site located at 808 Windsor Street in Somerville, MA has secured a construction loan worth $246,000,000. The loan, provided by Bank OZK, is set to facilitate the development of the property. The loan terms span over a period of 5 years, allowing ample time for the completion of the project.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $246,000,000
• Address: 808 Windsor Street, Somerville, MA
• Market: Somerville, MA

The property is owned by Leggat McCall Properties, DLJ Real Estate Capital Partners, and Deutsche Finance America. Assisting in the transaction, Brett Paulsrud and Henry Schaffer from JLL acted as the brokers representing the parties involved in the deal.