Updated Oct 29, 2024
Affordable Housing And Services Collaborative, Inc. Secures $26.4M Loan For 248-Unit Multifamily Property In Westfield, MA
126 Union Street, Westfield, MA, USA
$26,400,000
$1,514/SF
Building Size
17,428 SF
Asset Type
MultiFamily
Closing
Dec 15, 2020
About this deal
AI
The Affordable Housing and Services Collaborative, Inc. has secured a loan amount of $26,400,000 for the acquisition of a multifamily property located at 126 Union Street in Westfield, MA. The property consists of 248 units and was financed by masshousing''>MassHousing, with Chrystal Kornegay as the lender's representative. Peabody Properties acted as the broker in the transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $26,400,000
- Units: 248
- Address: 126 Union Street
- Market: Westfield, MA
In this deal, Chrystal Kornegay of MassHousing served as the lender's representative. The loan was obtained by the Affordable Housing and Services Collaborative, Inc., who will now take ownership of the multifamily property located at 126 Union Street. Peabody Properties facilitated the transaction as the broker.
On the Map
$26,400,000
$1,514/SF
MultiFamily
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Players
Westfield 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
0.60%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93