Updated Oct 28, 2024
Atlantic Management Secures $70.5M Loan For Industrial Property In Westborough, MA
50 Otis Street, Westborough, Massachusetts 01581, United States
$70,500,000
$173/SF
Building Size
406,437 SF
Asset Type
Industrial
Closing
Aug 10, 2022
About this deal
AI
Located at 50 Otis Street in Westborough, MA, this industrial property spans over 406,437 square feet. The transaction took place on August 11, 2022, with a loan amount of $70,500,000.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $70,500,000
- Market: Westborough, MA
- Address: 50 Otis Street
- Landlord: Atlantic Management
The deal was facilitated by a team consisting of Robert Griffin, David Douvadjian Sr, Timothy O'Donnell, Brian Butler, David Douvadjian Jr, and Conor Reenstierna from Newmark. They represented the parties involved in this transaction.
On the Map
$70,500,000
$173/SF
Industrial
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Players
Westborough 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
0.23%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93