Updated Oct 28, 2024
MassHousing Provides $40.8M Loan For Multifamily Property In Lawrence, MA
300 Methuen Street, Lawrence, Massachusetts 01840, United States
$40,800,000
Units
179
Asset Type
MultiFamily
Closing
Aug 17, 2022
About this deal
AI
Located at 300 Methuen St in Lawrence, MA, this multifamily property is the focal point of a recent transaction.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $40,800,000
- Units: 180
- Market: Lawrence, MA
This transaction involved the lender masshousing''>MassHousing, with Chrystal Kornegay representing them. The borrower, Reed Community Partners LLC, was represented by Scott Reed.
The multifamily loan at 300 Methuen Street, Lawrence, Massachusetts 01840, United States in Lawrence, Massachusetts financed for $40.8M in 2022. Reported inventory is 179 units across 179 units. This page is the Lawrence, Massachusetts file for the 300 Methuen Street, Lawrence, Massachusetts 01840, United States multifamily financed: pricing, party profiles, and other closed multifamily comps from the same Lawrence sit in the Market section below. Filter that Lawrence multifamily set by closing date to see what else financed near 300 Methuen Street, Lawrence, Massachusetts 01840, United States around 2022. Published consideration for 300 Methuen Street, Lawrence, Massachusetts 01840, United States is $40.8M, dated 2022. Cite this MassHousing Provides $40.8M Loan For Multifamily Property In Lawrence, MA loan when underwriting similar multifamily product around Lawrence, Massachusetts.
Players
Lawrence 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
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93