FoxRock Properties Secures $128.7M Construction Financing For Multifamily Property In Quincy, MA
114 Whitwell Street, Quincy, Massachusetts 02169, United States
$128,700,000
$933/SF
Building Size
137,904 SF
Asset Type
MultiFamily
Closing
Apr 3, 2022
AI
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
Quincy 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
0.12%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93