Atlantic Management Sells Mixed-Use Property In Andover, MA For $190M
SOLD
$190,000,000
+ 1
Massachusetts
See Similar DealsMixed-use
Sold 01/18/2022
SOLD
Atlantic Management Sells Mixed-Use Property In Andover, MA For $190M
3000 Minuteman Road, Andover, Massachusetts 01810, United States
See Similar DealsMixed-use
Sold 01/18/2022
+ 1
Summary
MASSACHUSETTS
Asset Type:Mixed-use
Transaction Type:Sale
The mixed-use property located at 3000 Minuteman Road in Andover, MA has been sold for a transaction amount of $190,000,000. The property, owned by Atlantic Management, was sold with the representation of brokers Robert Griffin, Edward Maher, Matthew Pullen, and Samantha Hallowell from Newmark.
Summary of transation details:
- Property Type: Mixed-use
- Transaction Amount: $190,000,000
- Address: 3000 Minuteman Road, Andover, MA
- Market: Andover, MA
The sale of this mixed-use property marks a significant transaction in Andover, MA. It involved the collaboration of brokers Robert Griffin, Edward Maher, Matthew Pullen, and Samantha Hallowell from Newmark, who represented the seller, Atlantic Management.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$10,133,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$675,029.88
Cash-on-Cash Return-1.27%
Monthly Debt Service$900,696.93
Annual Debt Service$10,808,363.20
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