Boston Global Investors, PGIM Real Estate & Wheelock Street Capital Secures $543M Loan For Mixed-Use Property On Congress St, Boston
401 Congress St, Boston, Massachusetts 02210, United States
$543,000,000
$977/SF
Building Size
555,250 SF
Asset Type
Mixed-use
Closing
Mar 28, 2022
AI
Boston Global Investors, PGIM Real Estate, and Wheelock Street Capital have secured a construction loan for a mixed-use property located at 401 Congress St in Boston, MA. This property spans approximately 555,250 square feet.
Summary of Transaction Details
- Property Type: Mixed-Use
- Transaction Amount: $543,000,000
- Loan Type: Construction Loan
The loan was arranged by Anthony Cutone and Andrew Gray of JLL. They represented the parties involved in this transaction, which included Boston Global Investors, PGIM Real Estate, and Wheelock Street Capital.
Players
Boston 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
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93