Updated Mar 11, 2025
MassHousing Acquires Multifamily Property In Cambridge, MA For $45M
30-50 Churchill Avenue, Cambridge, MA, USA
$45,000,000
Units
198
Asset Type
MultiFamily
Closing
Jul 6, 2020
About this deal
AI
The property involved in this transaction is a multifamily asset located at 30-50 Churchill Avenue in Cambridge, MA. The deal, which took place on 07/07/2020, was facilitated by masshousing''>MassHousing and the loan amount was $45,000,000. The property consists of 198 units and is owned by the Cambridge Housing Authority.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $45,000,000
- Units: 198
- Lender: MassHousing - Chrystal Kornegay
- Landlord: Cambridge Housing Authority - Michael Johnston
Chrystal Kornegay, representing MassHousing, played a crucial role in this transaction. Additionally, Michael Johnston from the Cambridge Housing Authority was involved as the landlord. The deal showcases the collaborative efforts between the lending institution and the housing authority.
Players
Cambridge 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
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93