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:
- Property Type: Multifamily
- Transaction Amount: $16,000,000
- Address: 375 Cummins Highway
- Market: Roslindale, MA
- Units: 49
- Landlord: Diarmaid McGregor - N6 Properties
- Broker: Brian Rooney & Patrick Woods - FinanceBoston
- Loan Type: Construction
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
Market 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
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93