Doug Landry - FinanceBoston Provides $5M Mezzanine Loan For Development Site In Charlestown, MA
24 Spice Street
$5,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Feb 21, 2023
AI
A mezzanine loan in the amount of $5,000,000 has been secured for the development site located at 24 Spice Street in Charlestown, MA. The loan is being provided by Doug Landry of FinanceBoston.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $5,000,000
Doug Landry of FinanceBoston is the lender for this mezzanine loan, supporting the development of the site at 24 Spice Street in Charlestown, MA. The borrower in this transaction is RISE.
Market 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
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93