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Middlesex Savings Bank Provides $39.1M Construction Loan For Wilmington Industrial Property

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FINANCED
$39,100,000

Massachusetts

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Industrial214,440 SF
Financed 06/15/2022
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Property Image
FINANCED

Middlesex Savings Bank Provides $39.1M Construction Loan For Wilmington Industrial Property

38 Upton Drive, Wilmington, Massachusetts 01887, United States

See Similar Deals
Industrial214,440 SF
Financed 06/15/2022
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Summary

MASSACHUSETTS
Asset Type:Industrial
Price Per Square Foot:$182
Total Square Footage:214,440 SF
Transaction Type:Loan

The industrial property located at 38 Upton Dr in Wilmington, MA has recently undergone a closed transaction. The property spans approximately 214,440 square feet and is situated on 27 acres of land. The transaction was facilitated by brokers Brett Paulsrud and Jonathan Schneider from JLL. The landlord of the property is Davis.

Summary of Transaction Details:

  • Property Type: Industrial
  • Transaction Amount: $39,100,000
  • Address: 38 Upton Dr, Wilmington, MA
  • Market: Wilmington, MA
  • Asset Type: Industrial
  • Square Footage: 214,440
  • Acres: 27

The loan for this transaction was provided by Middlesex Savings Bank, with Nick Giberson as the representative from the bank. The loan amount totaled $39,100,000 and was classified as a construction loan.

Players

Brett Paulsrud
20 deals$2.9B volume(617) 848-1571
BROKER

Jonathan Schneider
Boston Realty Advisors
9 deals$256.8M volume(617) 285-2245
BROKER

Middlesex Savings Bank
LENDER

Details

FINANCED
IMAGE: Jonathan Schneider & Brett Paulsrud DATE: 06/15/2022 ADDRESS: 38 Upton Dr MARKET: Wilmington, MA ASSET TYPE: Industrial ~ SF: 214,440 ~ ACRES: 27 LENDER: Middlesex Savings Bank - Nick Giberson LANDLORD: Davis BROKERS: Brett Paulsrud & Jonathan Schneider - JLL LOAN AMOUNT: $39,100,000 LOAN TYPE: Construction Loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$39,100,000.00

Monthly NOI$260,666.67
Monthly Debt Service$247,138.60
Change in Cash Flow$0.00
Refinance Proceeds$0.00