Updated Oct 29, 2024
Madison Realty Capital Provides $165M Construction Loan For Boston Multifamily Development
1252 Boylston St, Boston, MA 02215, USA
$165,000,000
$2,750/SF
Building Size
60,000 SF
Asset Type
MultiFamily
Closing
Nov 5, 2020
About this deal
AI
Scapes North America has secured a $165 million construction loan from Madison Realty Capital for the development of a multifamily project located at 1252-1270 Boylston Street in Boston, MA. The loan was facilitated by Josh Zegen, Co-Founder and Managing Principal of Madison Realty Capital.
Summary of transaction details
- Property Type: Multifamily Development
- Transaction Amount: $165,000,000
- Address: 1252-1270 Boylston Street, Boston, MA
- Market: Boston, MA
- Developer: Scapes North America
- Lender: Madison Realty Capital
- Loan Type: Construction Loan
Josh Zegen, representing Madison Realty Capital, facilitated the transaction. As the Co-Founder and Managing Principal of the firm, Zegen played a crucial role in securing the $165 million construction loan for the multifamily development project at 1252-1270 Boylston Street in Boston.
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
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93