Updated Dec 4, 2024
Northbridge Partners Secures $27.8 Million Loan To Acquire Industrial Portfolio In East Boston
36 Saratoga Place
$27,800,000
$92/SF
Building Size
300,000 SF
Asset Type
Industrial
Closing
Jul 10, 2024
About this deal
AI
An industrial portfolio exceeding 300,000 square feet has been acquired in the Boston metropolitan area, including a property located at 36 Saratoga Place, East Boston, MA. The deal involved a loan amount of $27,800,000 for the acquisition of this asset.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $27,800,000
- Address: 36 Saratoga Place
- Market: East Boston, MA
- Lender: Tim Chaves - Bristol County Savings Bank
- Brokers: Andrew Gray & Ryan Parker - JLL
Northbridge Partners has successfully secured financing to facilitate the acquisition, drawing from the expertise of the brokers involved in the deal to ensure a smooth transaction process. The involvement of leading professionals from JLL highlights the significance of this transaction within the industrial sector.
Players
East Boston 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
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93