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Jackson Square Development Team Secures $15.8M Construction Loan From Northern Bank In Weymouth
FINANCED
$15,800,000
Massachusetts
See Similar DealsDevelopment Site
Financed 09/08/2025
FINANCED
Jackson Square Development Team Secures $15.8M Construction Loan From Northern Bank In Weymouth
948 Broad Street
See Similar DealsDevelopment Site
Financed 09/08/2025
Summary
MASSACHUSETTS
Asset Type:Development Site
Transaction Type:Loan
The asset involved is a development site located at 948 Broad Street, Weymouth, MA. The property is part of a larger plan for four mixed-use buildings, with Phase 1 set to deliver 42 residential units along with various amenities. A construction loan of $15,800,000 was secured for this project.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $15,800,000
- Lender: Northern Bank
- Loan Type: Construction
- Market: Weymouth, MA
The Jackson Square development team is spearheading this project, having secured financing for the construction phase. The deal reflects their ongoing efforts to develop mixed-use properties in the region.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$15,800,000.00
Monthly NOI$105,333.33
Monthly Debt Service$99,866.75
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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