Middlesex Savings Bank Provides $39.1M Construction Loan For Wilmington Industrial Property
38 Upton Drive, Wilmington, Massachusetts 01887, United States
$39,100,000
$182/SF
Building Size
214,440 SF
Asset Type
Industrial
Closing
Jun 14, 2022
AI
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
Wilmington 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
0.41%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93