Bank OZK Provides $246M Construction Loan For Development Site In Somerville, MA
FINANCED
$246,000,000
Massachusetts
See Similar DealsDevelopment Site
Financed 12/21/2021
FINANCED
Bank OZK Provides $246M Construction Loan For Development Site In Somerville, MA
808 Windsor Street, Somerville, Massachusetts 02141, United States
See Similar DealsDevelopment Site
Financed 12/21/2021
Summary
MASSACHUSETTS
Asset Type:Development Site
Transaction Type:Loan
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.
Players
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$246,000,000.00
Monthly NOI$1,640,000.00
Monthly Debt Service$1,554,887.34
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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