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Civico Development Secures $12.9M Loan From Hingham Institution For The Walker Center Redevelopment

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FINANCED
$12,900,000

Massachusetts

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MultiFamily
Financed 02/24/2025
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Property Image
FINANCED

Civico Development Secures $12.9M Loan From Hingham Institution For The Walker Center Redevelopment

138 Hancock Street & 144 Hancock Street

See Similar Deals
MultiFamily
Financed 02/24/2025
the dealplayerscompscontact
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Loan

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:

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.

Players

Hingham Institution for Savings
Hingham Institution for Savings
LENDER

Details

FINANCED
IMAGE: Robert H. Gaughen & Andrew Consigli DATE: 02/24/2025 ADDRESS: 138 & 144 Hancock Street MARKET: Auburndale, MA ASSET TYPE: MultiFamily LENDER: Robert H. Gaughen - Hingham Institution for Savings (@HinghamInstitutionForSavings) LANDLORD: Andrew Consigli - Civico Development LOAN AMOUNT: $12,900,000 NOTE: Civico Development secured a $12.9M loan from Hingham Institution for Savings to redevelop The Walker Center in Auburndale. Plans include expanding buildings at 138 & 144 Hancock Street into 12 housing units, while the City of Newton reviews options for the adjacent property.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$12,900,000.00

Monthly NOI$86,000.00
Monthly Debt Service$81,536.78
Change in Cash Flow$0.00
Refinance Proceeds$0.00