J.P. Morgan Asset Management And Samuels & Associates Secure $170 Million Refinance Loan In Boston
180 Brookline Avenue
$170,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 30, 2024
AI
The asset involved in the transaction is a multifamily property located at 180 Brookline Avenue, Boston, MA, consisting of 405 units. A loan amount of $170,000,000 was secured for the refinance of this property, which is situated near Fenway Park.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $170,000,000
- Lender: John Schlifske - Northwestern Mutual
- Landlord: George Gatch - J.P. Morgan Asset Management & Steve Samuels - Samuels & Associates
- Broker Representatives: Adam Spengler, Kyle Juszczyszyn, Thomas Traynor & Tom Rugg - CBRE
- Loan Type: Refinance
- Loan Terms: five-year, fixed-rate loan
This transaction involved key individuals and firms, with J.P. Morgan Asset Management and Samuels & Associates representing the landlord, while the lending entity was Northwestern Mutual. The brokers from CBRE facilitated the loan process, ensuring the successful refinancing of the multifamily property 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
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93