Updated Oct 28, 2024
Cambridge Savings Bank Provides $84.5M Construction Financing For Winchester Multifamily Project
19 River St, Winchester, Massachusetts 01890, United States
$84,500,000
Units
242
Asset Type
MultiFamily
Closing
Aug 29, 2022
About this deal
AI
A multifamily property located at 19-35 River Street & 416 Cambridge Street in Winchester, MA has recently undergone a closed transaction. The property consists of 242 units and is owned by Strategic Land Ventures, represented by Geoff Engler as their landlord's representative.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $84,500,000
- Market: Winchester, MA
- Units: 242
The loan for this transaction was provided by Cambridge Savings Bank, with Kevin Teller serving as the lender's representative. The loan type for this transaction was construction financing.
Players
Winchester 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
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93