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190 Bridge Street

Updated Oct 29, 2024

Pacific Urban Residential & California Public Employees' Retirement System Acquires Multifamily Property In Salem, MA For $57.5M
FINANCEDMultiFamily

Pacific Urban Residential & California Public Employees' Retirement System Acquires Multifamily Property In Salem, MA For $57.5M

190 Bridge Street

$57,500,000

$70,552/SF

Building Size

815 SF

Asset Type

MultiFamily

Closing

Jun 24, 2020

About this deal

AI

A multifamily property located at 190 Bridge St in Salem, MA was involved in a closed transaction on June 24, 2021. The property was acquired by Pacific Urban Residential and California Public Employees’ Retirement System, acting as the landlord. Allianz Life Insurance Co., represented by Walter White, provided the loan for this transaction, amounting to $57,500,000.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $57,500,000
  • Market: Salem, MA
  • Asset Type: Multifamily
  • Lender: Allianz Life Insurance Co. - Walter White

In this transaction, Pacific Urban Residential and California Public Employees’ Retirement System acted as the landlord. The loan was provided by Allianz Life Insurance Co., with Walter White representing them. The transaction took place in Salem, MA, specifically at 190 Bridge St.

On the Map

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$57,500,000

$70,552/SF

MultiFamily

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Players

Allianz Real Estate
Allianz Real EstateLender

Salem MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $70.6K per square foot on a published $57.5M for 815 square feet (2020).

Browse Salem multifamily loans on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.28%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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