MGM Capital Development Secures $9.57 Million Loan From Cardinal Capital Group In Boston
FINANCED
$9,575,000
Massachusetts
See Similar DealsMultiFamily5,189 SF
Financed 08/01/2024
FINANCED
MGM Capital Development Secures $9.57 Million Loan From Cardinal Capital Group In Boston
291 Beacon Street
See Similar DealsMultiFamily5,189 SF
Financed 08/01/2024
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$1,845
Total Square Footage:5,189 SF
Transaction Type:Loan
The property asset involved in this transaction is a multifamily building located at 291 Beacon St, Boston, MA. The asset encompasses a total square footage of 7,674 and has been financed through a loan amount of $9,575,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,575,000
- Address: 291 Beacon St
- Market: Boston, MA
- Lender: Cardinal Capital Group
- Landlord: MGM Capital Development, a subsidiary of MGM Capital Investments
- Broker: Frank Amato
The key individuals and companies involved in this transaction include the lender, Cardinal Capital Group, which facilitated the loan. MGM Capital Development serves as the landlord for the property, and Frank Amato acted as the broker in this transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$9,575,000.00
Monthly NOI$63,833.33
Monthly Debt Service$60,520.51
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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