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39 Broad Street, Quincy, Ma...

Updated Oct 28, 2024

Rockland Trust Provides $11.2M Construction Loan For Mixed-Use Property Acquisition
FINANCEDMixed-use

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.

Players

Rockland Trust
Rockland TrustLender

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

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