Nic Beaujean Of Beau Development Secures $5.08M Construction Loan For Multifamily Project In Newton
FINANCED
$5,079,000
Massachusetts
See Similar DealsMultiFamily9,542 SF
Financed 02/25/2025
FINANCED
Nic Beaujean Of Beau Development Secures $5.08M Construction Loan For Multifamily Project In Newton
394 Watertown Street
See Similar DealsMultiFamily9,542 SF
Financed 02/25/2025
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$532
Total Square Footage:9,542 SF
Transaction Type:Loan
The property asset involved is a multifamily building located at 394 Watertown Street in Newton, MA, with a total square footage of 9,542. The transaction involves a construction loan amounting to $5,079,000 for the development of luxury condos.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,079,000
- Loan Type: Construction
- Lender: LandUP Capital
- Landlord: Nic Beaujean - Beau Development
- Broker: Doug Landry - LandUP Capital
The key individuals involved in the deal include Nic Beaujean, representing Beau Development, and Doug Landry, who acts as the broker for LandUP Capital. The financing secured is specifically intended for the construction of luxury condos in the Newton market.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,079,000.00
Monthly NOI$33,860.00
Monthly Debt Service$32,102.73
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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