Updated Aug 12, 2025
Andrew Chaban Of Princeton Properties & National Development Secures $30.4 Million Construction Loan From Berkshire Bank For Multifamily Project In Wilmington MA
201 Jefferson Road
$30,400,000
Building Size
—
Asset Type
MultiFamily
Closing
Aug 11, 2025
About this deal
AI
The property asset involved in this transaction is Princeton Wilmington Apartment Homes, located at 201 Jefferson Road in Wilmington, MA. This asset is classified as multifamily and is tied to a construction loan facilitated through Berkshire Bank.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $30,400,000
- Lender: Berkshire Bank
- Landlord: Andrew Chaban - Princeton Properties & National Development
- Loan Type: Construction
This transaction involves Andrew Chaban, representing Princeton Properties and National Development, ensuring the financing for the construction of the multifamily development is secured effectively through Berkshire Bank.
On the Map
$30,400,000
MultiFamily
View full map
Players
Wilmington MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.52%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93