Oxford Properties Acquires Industrial/Office Asset In Framingham, MA From Carlyle Group / King Street Properties
SOLD
Massachusetts
See Similar DealsIndustrial267,000 SF
Sold 12/04/2020
SOLD
Oxford Properties Acquires Industrial/Office Asset In Framingham, MA From Carlyle Group / King Street Properties
33 New York Avenue, Framingham, MA, USA
See Similar DealsIndustrial267,000 SF
Sold 12/04/2020
Summary
MASSACHUSETTS
Asset Type:Industrial
Price Per Square Foot:$565
Total Square Footage:267,000 SF
Transaction Type:Sale
The industrial/office property located at 33 New York Avenue & 1-5 Mountain Road in Framingham, MA has been sold for a price of $151,000,000. The property spans 267,000 square feet, resulting in a price per square foot of $566.
Summary of transation details
- Property Type: Industrial/Office
- Transaction Amount: $151,000,000
- Seller: Carlyle Group / King Street Properties
- Buyer: Oxford Properties
- Brokers: Frank Petz & John Nasca - Colliers International
- Address: 33 New York Avenue & 1-5 Mountain Road, Framingham, MA
- Market: Framingham, MA
- Square Footage: 267,000
- Price per Square Foot: $566
The sellers of the property were Carlyle Group and King Street Properties, while Oxford Properties acted as the buyer. The transaction was facilitated by brokers Frank Petz and John Nasca from Colliers International.
Players
SELLER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$8,053,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$536,471.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$715,817.04
Annual Debt Service$8,589,804.44
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