Updated Feb 24, 2025
Civico Development Secures $12.9M Loan From Hingham Institution For The Walker Center Redevelopment
138 Hancock Street & 144 Hancock Street
$12,900,000
Building Size
—
Asset Type
MultiFamily
Closing
Feb 24, 2025
About this deal
AI
The transaction involves a loan secured for the redevelopment of The Walker Center, located at 138 & 144 Hancock Street in Auburndale, MA. The overall loan amount is $12,900,000, aimed at expanding the existing buildings into 12 housing units. The redevelopment is currently subject to review by the City of Newton regarding adjacent property options.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $12,900,000
- Lender: Robert H. Gaughen - Hingham Institution for Savings
- Landlord: Andrew Consigli - Civico Development
The key individuals involved in this transaction include Robert H. Gaughen, representing Hingham Institution for Savings, who provided the loan, and Andrew Consigli, who represents Civico Development as the landlord overseeing the redevelopment project.
On the Map
$12,900,000
MultiFamily
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Players
Auburndale MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.23%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93