Updated Mar 11, 2025
Eastern Bank Provides $14M Acquisition Loan For Industrial Property In Lowell, MA
122 Western Avenue, Lowell, Massachusetts 01851, United States
$14,000,000
$58/SF
Building Size
240,000 SF
Asset Type
Industrial
Closing
Jun 19, 2022
About this deal
AI
An industrial property located at 122 Western Ave in Lowell, MA has been recently involved in a closed transaction. This property spans approximately 240,000 square feet and falls within the industrial asset type category.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $14,000,000
- Loan Type: Acquisition
The loan for this transaction was provided by Eastern Bank with Pamela Feingold serving as the lender's representative. The Arts & Business Council of Greater Boston, represented by Jim Grace, acted as the landlord.
Players
Lowell Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93