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Fortis Property Group Secures $85M Bridge Loan For Mixed-Use Property In Boston, MA

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FINANCED
$85,000,000

Massachusetts

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Mixed-use
Financed 06/13/2023
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FINANCED

Fortis Property Group Secures $85M Bridge Loan For Mixed-Use Property In Boston, MA

47 55 Lagrange Street

See Similar Deals
Mixed-use
Financed 06/13/2023
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Summary

MASSACHUSETTS
Asset Type:Mixed-use
Transaction Type:Loan

The mixed-use property located at 47-55 Lagrange Street in Boston, MA has been involved in a closed transaction. The property, owned by Fortis Property Group, was secured for a loan by Gatehouse Capital Partners, Fort Amsterdam Capital, and Crayhill Capital Management. The loan amount for this bridge loan is $85,000,000, and the loan terms are specified as a Condo Inventory Loan.

Summary of transaction details:

  • Property Type: Mixed-Use
  • Transaction Amount: $85,000,000
  • Market: Boston, MA
  • Lender: Gatehouse Capital Partners, Fort Amsterdam Capital, Crayhill Capital Management
  • Landlord: Fortis Property Group
  • Broker: Henry Bodek - Galaxy Capital

The deal involved the collaboration of Henry Bodek from Galaxy Capital as the broker representative. He played a crucial role in facilitating the transaction between the lender consortium consisting of Gatehouse Capital Partners, Fort Amsterdam Capital, and Crayhill Capital Management, and the property owner, Fortis Property Group.

Players

Henry Bodek
69 deals$12.3B volume
BROKER

Fort Amsterdam Capital
LENDER



Details

FINANCED
IMAGE: Jonathan Dembling, Brian Ursino, David Schwartz & Evan O'Connor DATE: 06/13/2023 ADDRESS: 47-55 Lagrange Street MARKET: Boston, MA ASSET TYPE: Mixed-Use LENDER: Gatehouse Capital Partners, Fort Amsterdam Capital & Crayhill Capital Management LANDLORD: Fortis Property Group BROKER: Henry Bodek - Galaxy Capital LOAN AMOUNT: $85,000,000 LOAN TYPE: Bridge LOAN TERMS: Condo Inventory Loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$85,000,000.00

Monthly NOI$566,666.67
Monthly Debt Service$537,257.82
Change in Cash Flow$0.00
Refinance Proceeds$0.00