WelcomeLend Brokers Will Macfee & Cameron Huard Arrange $34.7M Construction Loan For Development Site In Nantucket, MA
FINANCED
$34,700,000
Massachusetts
See Similar DealsDevelopment Site63,575 SF
Financed 01/26/2022
FINANCED
WelcomeLend Brokers Will Macfee & Cameron Huard Arrange $34.7M Construction Loan For Development Site In Nantucket, MA
Nantucket, Massachusetts, United States
See Similar DealsDevelopment Site63,575 SF
Financed 01/26/2022
Summary
MASSACHUSETTS
Asset Type:Development Site
Price Per Square Foot:$545
Total Square Footage:63,575 SF
Transaction Type:Loan
A construction loan worth $34,700,000 has been secured for a development site located in Nantucket, MA. The site spans across an area of 63,575 square feet. The loan is being provided by a debt fund.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $34,700,000
- Market: Nantucket, MA
- Asset Type: Development Site
- Square Footage: 63,575
The borrower, represented by Will Macfee and Cameron Huard from WelcomeLend, successfully secured the construction loan for the development site in Nantucket. The loan will support the construction and development activities on the site. No additional information about the parties involved in the transaction was provided.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$34,700,000.00
Monthly NOI$231,333.33
Monthly Debt Service$219,327.60
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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