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375 Cummins Highway

N6 Properties Secures $16M Construction Loan For 49-Unit Apartment Development
FINANCEDMultiFamily

N6 Properties Secures $16M Construction Loan For 49-Unit Apartment Development

$16,000,000

$320/SF

Building Size

50,000 SF

Asset Type

MultiFamily

Closing

May 10, 2024

AI

The property at 375 Cummins Highway, located in Roslindale, MA, is a Multifamily asset spanning 50,000 square feet with 49 units. Diarmaid McGregor of N6 Properties is the landlord of this property.

Summary of transaction details:

Brian Rooney and Patrick Woods of FinanceBoston facilitated a $16,000,000 Construction Loan for the development of a 49-unit apartment building in Boston, MA, as per the request made by Diarmaid McGregor of N6 Properties.

Players

Brian Rooney

FinanceBoston

Broker

$117.6M

vol

10 deals

Broker

Market MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.99%

Cash-on-Cash

-0.28%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93