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1 Sylvan Street, Danvers, M...

Updated Oct 29, 2024

Rockland Trust Provides $44M Construction Loan For Mixed-Use Property In Danvers, MA
FINANCEDMixed-use

Rockland Trust Provides $44M Construction Loan For Mixed-Use Property In Danvers, MA

1 Sylvan Street, Danvers, Massachusetts 01923, United States

$44,000,000

Building Size

—

Asset Type

Mixed-use

Closing

Dec 21, 2022

About this deal

AI

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.

On the Map

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$44,000,000

Mixed-use

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Players

David Masse

Panther Residential Management

Landlord

$68M

vol

2 deals

Landlord

Danvers Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.36%

Cash-on-Cash

-0.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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