Updated Oct 28, 2024
Rockland Trust Provides $11.2M Construction Loan For Mixed-Use Property Acquisition
39 Broad Street, Quincy, Massachusetts 02169, United States
$11,200,000
Building Size
—
Asset Type
Mixed-use
Closing
Jun 5, 2022
About this deal
AI
Father Bill’s & MainSpring has secured a loan of $11,200,000 for a construction project at 39 Broad St in Quincy, MA. The mixed-use property will undergo development with the support of Rockland Trust. John Quintal from Rockland Trust is the lender for this transaction. John Yazwinski represents Father Bill’s & MainSpring as the landlord in this deal.
Summary of transaction details
- Property Type: Mixed use
- Transaction Amount: $11,200,000
- Date: 06/06/2022
- Address: 39 Broad St, Quincy, MA
- Lender: Rockland Trust - John Quintal
- Landlord: Father Bill’s & MainSpring - John Yazwinski
It is noteworthy that the loan obtained from Rockland Trust is specifically for the purpose of construction on the mixed-use property located at 39 Broad St. This deal highlights the collaboration between Father Bill’s & MainSpring, represented by John Yazwinski, and Rockland Trust, represented by John Quintal.
On the Map
$11,200,000
Mixed-use
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Players
Quincy 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
1.42%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93