FoxRock Properties Secures $128.7M Construction Financing For Multifamily Property In Quincy, MA
FINANCED
$128,700,000
Massachusetts
See Similar DealsMultiFamily137,904 SF
Financed 04/04/2022
FINANCED
FoxRock Properties Secures $128.7M Construction Financing For Multifamily Property In Quincy, MA
114 Whitwell Street, Quincy, Massachusetts 02169, United States
See Similar DealsMultiFamily137,904 SF
Financed 04/04/2022
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$933
Total Square Footage:137,904 SF
Transaction Type:Loan
Located at 114 Whitwell St in Quincy, MA, this multifamily property has recently undergone a significant transaction. The property consists of 465 units and is owned by FoxRock Properties.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $128,700,000
- Loan Type: Construction financing
- Lender: citizens''>Citizens Bank
- Brokers: Jeff Black, Bryan Koop & Sean Burke - Colliers
The loan for this transaction was provided by Citizens Bank. The construction financing amount was $128,700,000. Jeff Black, Bryan Koop, and Sean Burke from Colliers represented the landlord, FoxRock Properties, in this deal.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$128,700,000.00
Monthly NOI$858,000.00
Monthly Debt Service$813,471.55
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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