Updated Oct 28, 2024
MassHousing And Rockport Mortgage Refinance $23.3M Loan For Brockton Multifamily Property
1 Pine Grove Dr, Brockton, Massachusetts 02301, United States
$23,300,000
Units
168
Asset Type
MultiFamily
Closing
May 24, 2022
About this deal
AI
Beacon Communities LLC has refinanced a multifamily property located at 1 Pine Grove Dr in Brockton, MA. The property consists of 168 units and the loan amount for the refinancing is $23,300,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $23,300,000
- Address: 1 Pine Grove Dr, Brockton, MA
- Market: Brockton, MA
- Lender: masshousing''>MassHousing - Chrystal Kornegay & Rockport Mortgage - Dan Lyons
- Landlord: Beacon Communities LLC - Mary Corthell
The financing was provided by MassHousing represented by Chrystal Kornegay and Rockport Mortgage represented by Dan Lyons. Mary Corthell from Beacon Communities LLC serves as the landlord for the property.
Players
Brockton MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.68%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93