Centreville Bank Provides $10.6M Loan For Industrial Property Acquisition, Lowell MA
FINANCED
$10,630,000
Massachusetts
See Similar DealsIndustrial55,325 SF
Financed 06/14/2022
FINANCED
Centreville Bank Provides $10.6M Loan For Industrial Property Acquisition, Lowell MA
160 Industrial Avenue, Lowell, Massachusetts 01851, United States
See Similar DealsIndustrial55,325 SF
Financed 06/14/2022
Summary
MASSACHUSETTS
Asset Type:Industrial
Price Per Square Foot:$192
Total Square Footage:55,325 SF
Transaction Type:Loan
The industrial property located at 160 Industrial Ave in Lowell, MA was recently involved in a closed transaction. The property spans a total area of 55,325 square feet. The deal was facilitated by brokers Brett Paulsrud and Amy Lousararian from JLL. The lenders in this transaction were Centreville Bank.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $10,630,000
- Loan Type: Acquisition loan
- Loan Terms: Five-year, fixed-rate, non-recourse acquisition loan
Oliver Street Capital and Bain Capital Real are the landlords of the property. It is important to note that no additional information was provided regarding the individuals or companies involved in this transaction.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$10,630,000.00
Monthly NOI$70,866.67
Monthly Debt Service$67,188.83
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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