Updated Oct 28, 2024
Peabody Properties Refinances Lowell, MA Multifamily Property For $42.4M With Rockport Mortgage
246 Market Street, Lowell, Massachusetts 01852, United States
$42,400,000
Units
230
Asset Type
MultiFamily
Closing
May 12, 2022
About this deal
AI
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
Lowell 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
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93