N6 Properties Secures $16M Construction Loan For 49-Unit Apartment Development
FINANCED
$16,000,000
Massachusetts
See Similar DealsMultiFamily50,000 SF
Financed 05/10/2024
FINANCED
N6 Properties Secures $16M Construction Loan For 49-Unit Apartment Development
MultiFamily50,000 SF
Financed 05/10/2024
Summary
Asset Type:MultiFamily
Price Per Square Foot:$320
Total Square Footage:50,000 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$16,000,000.00
Monthly NOI$106,666.67
Monthly Debt Service$101,130.88
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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