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JLL Income Property Trust Acquires Medical Office Asset In Watertown For $32 Million
SOLD
$32,000,000
Massachusetts
See Similar DealsMedical Office53,000 SF
Sold
SOLD
JLL Income Property Trust Acquires Medical Office Asset In Watertown For $32 Million
485 Arsenal Street
See Similar DealsMedical Office53,000 SF
Sold
Summary
MASSACHUSETTS
Asset Type:Medical Office
Price Per Square Foot:$603
Total Square Footage:53000 SF
Transaction Type:Sale
The property asset involved in this transaction is a medical office situated at 485 Arsenal Street, Watertown, MA. It was sold for $32,000,000, encompassing a total area of 53,000 square feet, which equates to a price per square foot of $604.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $32,000,000
- Square Footage: 53,000
- Address: 485 Arsenal Street
- Market: Watertown, MA
- Price per Square Foot: $604
- Buyer: JLL Income Property Trust
JLL Income Property Trust represents the buyer in this transaction. The asset was acquired fully leased under a new 15-year lease with annual escalations, indicating a stable investment for the buyer.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,706,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$113,689.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$151,696.33
Annual Debt Service$1,820,355.91
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