Rockland Trust Provides $22.9M Construction Loan For Industrial Property In Sturbridge, MA
6 Picker Road, Sturbridge, Massachusetts, USA
$22,900,000
$12,722/SF
Building Size
1,800 SF
Asset Type
Industrial
Closing
May 21, 2020
AI
New England Cold Storage has secured a $22,900,000 construction loan for an industrial property located at 6 Picker Road in Sturbridge, MA. The loan was provided by Rockland Trust and will support the development of the asset.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $22,900,000
- Address: 6 Picker Road, Sturbridge, MA
- Market: Sturbridge, MA
The landlord, Chris Bailey of New England Cold Storage, successfully secured the loan from Brian Griffin of Rockland Trust. The brokerage for this transaction was handled by Patrick Boyle of Colliers.
Players
Sturbridge 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
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93