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Bank Of America Provides $3.72 Million Loan For Acquisition Of 4 Fountain Place In Boston

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FINANCED
$3,720,000

Massachusetts

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MultiFamily
Financed 02/24/2025
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FINANCED

Bank Of America Provides $3.72 Million Loan For Acquisition Of 4 Fountain Place In Boston

4 Fountain Place

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MultiFamily
Financed 02/24/2025
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Loan

The property involved in the transaction is a multifamily asset located at 4 Fountain Place, in the Boston, MA market. The acquisition of this property amounted to $6.2 million, supported by a loan of $3.72 million from Bank of America. The property consists of 10 units.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $6,200,000
  • Loan Amount: $3,720,000
  • Loan Type: Acquisition
  • Lender: Bank of America
  • Address: 4 Fountain Place
  • Market: Boston, MA
  • Units: 10

The transaction involved a significant loan for the purpose of acquisition, emphasizing the financial commitment to the multifamily property. The lender, Bank of America, played a crucial role in facilitating this financing arrangement for the acquisition of the property in Boston's North End.

Players

LENDER

Details

FINANCED
IMAGE: 02/24/2025 ADDRESS: 4 Fountain Place MARKET: Boston, MA ASSET TYPE: Multifamily ~ UNITS: 10 LENDER: Bank of America (@BankofAmerica) LOAN AMOUNT: $3,720,000 LOAN TYPE: Acquisition NOTE: A $3.72 million loan from Bank of America was used to finance the $6.2 million acquisition of 4 Fountain Place in Boston’s North End.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$3,720,000.00

Monthly NOI$24,800.00
Monthly Debt Service$23,512.93
Change in Cash Flow$0.00
Refinance Proceeds$0.00