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1079 Commonwealth Avenue, B...

The Hamilton Co. Secures $96.2M Loan For 279-Unit Multifamily Property In Cambridge, MA
FINANCEDMultiFamily

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

Adam Bieber

Broker

$206.2M

vol

4 deals

Broker

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