Updated Sep 25, 2025
David Robbins And David Rabin Acquire Industrial Asset In Devens For $74 Million
117 Hospital Road
$74,000,000
$448/SF
Building Size
165,000 SF
Asset Type
Industrial
Closing
Sep 24, 2025
About this deal
AI
The asset involved in the transaction is an industrial property located at 117 Hospital Road in Devens, MA. The sale was finalized for a total price of $74,000,000. The property spans a total of 165,000 square feet, translating to a price per square foot of $448.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $74,000,000
- Buyer: David Robbins - Pivotal Manufacturing Partners
- Buyer: David Rabin - Declaration Partners
- Seller: Thomas Ragno - King Street Properties
- Seller: Baupost Group
- Financing provided by: Goldman Sachs
This deal involved prominent individuals and companies, with David Robbins and David Rabin representing Pivotal Manufacturing Partners and Declaration Partners, respectively, in acquiring the property. On the seller's side, Thomas Ragno represented King Street Properties and Baupost Group in this significant transaction.
On the Map
$74,000,000
$448/SF
Industrial
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Players
Devens Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93