The Hamilton Co. Secures $96.2M Loan For 279-Unit Multifamily Property In Cambridge, MA
1079 Commonwealth Avenue, Boston, MA 02215
$96,200,000
Building Size
—
Asset Type
MultiFamily
Closing
Jun 18, 2020
AI
The Hamilton Co. has secured a loan for $96,200,000 for the acquisition of two multifamily properties located at 1079 Commonwealth Avenue and 1200 Massachusetts Ave in Cambridge, MA. Consisting of a total of 279 units, these properties offer desirable living spaces in the thriving market of Cambridge.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $96,200,000
- Units: 279
- Address: 1079 Commonwealth Avenue & 1200 Massachusetts Ave, Cambridge, MA
- Market: Cambridge, MA
The loan for this transaction was provided by Voya Commercial Mortgage LLC and Hingham Institution for Savings. The brokers who facilitated the deal were Adam Bieber, Harmon Handorf, Emily Beeler, and Bill Wrench from Phillips Realty Capital, representing The Hamilton Co. in the transaction.
Players
Boston 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
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93