Updated Sep 9, 2025
Jackson Square Development Team Secures $15.8M Construction Loan From Northern Bank In Weymouth
948 Broad Street
$15,800,000
Building Size
—
Asset Type
Development Site
Closing
Sep 8, 2025
About this deal
AI
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
East Weymouth Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.00%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93