Atlantic Management Secures $70.5M Loan For Industrial Property In Westborough, MA
FINANCED
$70,500,000
+ 3
Massachusetts
See Similar DealsIndustrial406,437 SF
Financed 08/11/2022
FINANCED
Atlantic Management Secures $70.5M Loan For Industrial Property In Westborough, MA
50 Otis Street, Westborough, Massachusetts 01581, United States
See Similar DealsIndustrial406,437 SF
Financed 08/11/2022
+ 3
Summary
MASSACHUSETTS
Asset Type:Industrial
Price Per Square Foot:$173
Total Square Footage:406,437 SF
Transaction Type:Loan
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.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$70,500,000.00
Monthly NOI$470,000.00
Monthly Debt Service$445,607.96
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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