Updated Dec 4, 2024
ABI Labs Secures $13.6M Loan From Rockland Trust To Expand With ABI-LAB 3
1350 Worcester Street
$13,600,000
$390/SF
Building Size
34,831 SF
Asset Type
Life Sciences
Closing
Dec 11, 2023
About this deal
AI
Accelerator Biotechnology Incubator (ABI) Labs, located at 1350 Worcester Street in Natick, MA, has secured a loan of $13.6 million from Rockland Trust. This funding will be used to support the expansion of ABI-LAB 3, a life science facility spanning approximately 34,831 square feet.
Summary of transaction details:
- Property Type: Life Science
- Loan Amount: $13,600,000
- Address: 1350 Worcester Street, Natick, MA
- Market: Natick, MA
- Landlord: Gary Kaufman - Accelerator Biotechnology Incubator (ABI) Labs
Rockland Trust has provided the necessary financial support to enable ABI Labs to expand with ABI-LAB 3. This loan will assist in accommodating the growth and development of life science activities at the facility.
On the Map
$13,600,000
$390/SF
Life Sciences
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.17%
Cash-on-Cash
-0.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93