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21 Quarry Lane, Malden, MA,...

Mack-Cali Realty Corp. - MaryAnne Gilmartin Secures $72M Loan For Multifamily Property In Malden, MA
FINANCEDMultiFamily

Mack-Cali Realty Corp. - MaryAnne Gilmartin Secures $72M Loan For Multifamily Property In Malden, MA

21 Quarry Lane, Malden, MA, USA

$72,000,000

$13/SF

Building Size

5,291,342 SF

Asset Type

MultiFamily

Closing

Jan 14, 2021

AI

Mack-Cali Realty Corp., represented by MaryAnne Gilmartin, has secured a loan worth $72,000,000 for a multifamily property located at 21 Quarry Lane in Malden, MA. The property consists of 326 units and is financed by New York Community Bank.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $72,000,000
  • Address: 21 Quarry Lane, Malden, MA
  • Market: Malden, MA
  • Units: 326
  • Landlord: Mack-Cali Realty Corp. - MaryAnne Gilmartin
  • Lender: New York Community Bank

MaryAnne Gilmartin, representing Mack-Cali Realty Corp., successfully secured the loan from New York Community Bank for this multifamily property. The deal highlights the collaborative effort between the landlord and lender to secure financing for the property located at 21 Quarry Lane in Malden, MA.

Players

New York Community Bank
New York Community BankLender

MaryAnne Gilmartin

Mack-Cali Realty Corp

Landlord

$264.1M

vol

7 deals

Landlord
Mack-Cali Realty Corp
Mack-Cali Realty CorpLandlord

Malden 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

0.22%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93