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1 Second Street, Peabody, M...

Metro Credit Union Provides $20.4M Loan For Industrial Property Acquisition In Peabody, MA
FINANCEDIndustrial

Metro Credit Union Provides $20.4M Loan For Industrial Property Acquisition In Peabody, MA

1 Second Street, Peabody, Massachusetts 01960, United States

$20,360,000

$129/SF

Building Size

157,293 SF

Asset Type

Industrial

Closing

Jun 5, 2022

AI

The industrial property located at 1 2nd St in Peabody, MA has been involved in a recent closed transaction. The property spans a total of 157,293 square feet and falls under the industrial asset type category.

Summary of transaction details

The loan provided for this transaction was an acquisition financing arrangement. The borrowing party was able to secure a loan amount of $20,360,000 from Metro Credit Union. Broker representatives, Brett Paulsrud and Amy Lousararian from JLL, facilitated the deal on behalf of the involved parties.

Players

Brett Paulsrud

JLL

Broker

$2.9B

vol

20 deals

Broker
Metro Credit Union
Metro Credit UnionLender

Oliver Street

Bain Capital

Landlord

$365.6M

vol

10 deals

Landlord

Peabody Industrial Market Snapshot

Boundary boundary · Industrial · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.78%

Cash-on-Cash

-0.22%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93