Rockland Trust Provides $44M Construction Loan For Mixed-Use Property In Danvers, MA
FINANCED
$44,000,000
Massachusetts
See Similar DealsMixed-use
Financed 12/21/2022
FINANCED
Rockland Trust Provides $44M Construction Loan For Mixed-Use Property In Danvers, MA
1 Sylvan Street, Danvers, Massachusetts 01923, United States
See Similar DealsMixed-use
Financed 12/21/2022
Summary
MASSACHUSETTS
Asset Type:Mixed-use
Transaction Type:Loan
1 Sylvan Street in Danvers, MA has been the site of a recent closed property transaction. The property, a mixed-use asset, was involved in a loan deal facilitated by Rockland Trust. The loan, amounting to $44,000,000, was classified as a construction loan.
Summary of Transaction Details:
- Property Type: Mixed-Use
- Transaction Amount: $44,000,000
- Address: 1 Sylvan Street, Danvers, MA
- Market: Danvers, MA
- Lender: Rockland Trust
- Landlord: AAM Danvers Residences, LLC - David R. Masse
The key individuals involved in this transaction include David R. Masse, who is associated with both the lending institution, Rockland Trust, and the landlord, AAM Danvers Residences, LLC. David R. Masse's role in this deal indicates his representation of the landlord's interests.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$44,000,000.00
Monthly NOI$293,333.33
Monthly Debt Service$278,109.93
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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