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Peabody Properties Refinances Lowell, MA Multifamily Property For $42.4M With Rockport Mortgage

Property Image
FINANCED
$42,400,000

Massachusetts

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MultiFamily
Financed 05/13/2022
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Property Image
FINANCED

Peabody Properties Refinances Lowell, MA Multifamily Property For $42.4M With Rockport Mortgage

246 Market Street, Lowell, Massachusetts 01852, United States

See Similar Deals
MultiFamily
Financed 05/13/2022
the dealplayerscompscontact
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Loan

Located at 246 & 256 Market St in Lowell, MA, this multifamily property consists of 230 units. The property was recently involved in a loan transaction.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $42,400,000
  • Date: 05/13/2022
  • Market: Lowell, MA
  • Lender: Rockport Mortgage - Dan Lyons
  • Landlord: Peabody Properties - Melissa Fish-Crane

The loan amount for this transaction was $42,400,000, and it was a refinancing loan. Dan Lyons from Rockport Mortgage served as the lender for this deal, while Melissa Fish-Crane represented Peabody Properties as the landlord.

Players

Rockport Mortgage Corporation
Rockport Mortgage Corporation
LENDER
PP
Peabody Properties
LANDLORD

Details

FINANCED
IMAGE: Dan Lyons & Melissa Fish-Crane DATE: 05/13/2022 ADDRESS: 246 & 256 Market St MARKET: Lowell, MA ASSET TYPE: Multifamily ~ UNITS: 230 LENDER: Rockport Mortgage - Dan Lyons LANDLORD: Peabody Properties (@PeabodyCompanies) - Melissa Fish-Crane LOAN AMOUNT: $42,400,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$42,400,000.00

Monthly NOI$282,666.67
Monthly Debt Service$267,996.84
Change in Cash Flow$0.00
Refinance Proceeds$0.00