N&P Associates Secures $47M Loan For Multifamily Property In Boston
FINANCED
$47,000,000
Massachusetts
See Similar DealsMultiFamily20,000 SF
Financed 03/08/2021
FINANCED
N&P Associates Secures $47M Loan For Multifamily Property In Boston
2 H Street
See Similar DealsMultiFamily20,000 SF
Financed 03/08/2021
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$2,350
Total Square Footage:20,000 SF
Transaction Type:Loan
N&P Associates has closed a loan transaction for a multifamily property in Boston, MA. The property, located at 2 H Street, consists of 135 units. The loan, provided by Bldup East Boston Savings Bank, amounts to $47,000,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $47,000,000
- Address: 2 H Street
- Market: Boston, MA
- Landlord: N&P Associates
- Lender: Bldup East Boston Savings Bank
- Units: 135
The loan transaction was facilitated by N&P Associates as the landlord and Bldup East Boston Savings Bank as the lender. This deal highlights the successful partnership between the two parties in securing financing for the multifamily property.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$47,000,000.00
Monthly NOI$313,333.33
Monthly Debt Service$297,071.97
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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