Mack-Cali Realty Corp. - MaryAnne Gilmartin Secures $72M Loan For Multifamily Property In Malden, MA
FINANCED
$72,000,000
Massachusetts
See Similar DealsMultiFamily5,291,342 SF
Financed 01/15/2021
FINANCED
Mack-Cali Realty Corp. - MaryAnne Gilmartin Secures $72M Loan For Multifamily Property In Malden, MA
21 Quarry Lane, Malden, MA, USA
See Similar DealsMultiFamily5,291,342 SF
Financed 01/15/2021
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$13
Total Square Footage:5,291,342 SF
Transaction Type:Loan
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
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$72,000,000.00
Monthly NOI$480,000.00
Monthly Debt Service$455,088.98
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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