CBRE Investment Management Provides $49.7M Mortgage Loan For Ashland Multifamily Property
13 Joanne Drive, Ashland, Massachusetts 01721, United States
$49,700,000
$280/SF
Building Size
177,075 SF
Asset Type
MultiFamily
Closing
Dec 10, 2021
AI
A multifamily property located at 13 Joanne Dr in Ashland, MA was involved in a recent transaction.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $49,700,000
- Address: 13 Joanne Dr, Ashland, MA
- Market: Ashland, MA
The lender for this transaction was CBRE Investment Management, providing a mortgage loan in the amount of $49,700,000 on a floating rate basis. The landlord in this deal was Taurus Investment Holdings, represented by Nick Clark. The brokers involved in the transaction were Jamie Leachman, Jackie Meagher, and Sean O’Brien from JLL Capital Markets.
Players
Ashland 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
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93