Griffith Properties & Dune Real Estate Partners Secure $78M Refinance Loan For Boston Logistics Portfolio
$78,000,000
Building Size
—
Asset Type
Industrial
Closing
Nov 8, 2023
AI
Griffith Properties and Dune Real Estate Partners' joint venture has secured a $78 million refinance loan for its Boston Logistics Portfolio, comprising five industrial properties totaling 631,000 square feet in Dedham, Mass. The loan was provided by Argentic Real Estate Investment and Hillcrest Finance.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $78,000,000
- Address: Boston Logistics Portfolio, Dedham, MA
- Market: Dedham, MA
The landlords involved in the transaction are Marci Griffith Loeber of Griffith Properties and Dan Neidich of Dune Real Estate Partners. They were represented by Benjamin Kroll, Christopher Kramer, Dustin Stolly, Holden Witkoff, Jordan Roeschlaub, and Timothy O'Donnell of Newmark.
Players
Market 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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93