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Mass Ave Rentals, LLC Acquires Multifamily Property In Gardner, MA For $2.9M

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FINANCED
$2,900,000

Massachusetts

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MultiFamily
Financed 10/28/2022
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Property Image
FINANCED

Mass Ave Rentals, LLC Acquires Multifamily Property In Gardner, MA For $2.9M

42 Parker Street, Gardner, Massachusetts 01440, United States

See Similar Deals
MultiFamily
Financed 10/28/2022
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Loan

The multifamily property located at 42-50 & 52 Parker St in Gardner, MA has been involved in a closed transaction. The loan for this property was secured through a collaboration between Fidelity Bank and massdevelopment''>MassDevelopment, with Dan Rivera representing both institutions. Mass Ave Rentals, LLC, owned by Gary Lorden, acted as the landlord for this property.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,900,000
  • Address: 42-50 & 52 Parker St, Gardner, MA
  • Market: Gardner, MA

The deal's key individuals and companies involved in this transaction include Dan Rivera, who represented the lending institutions Fidelity Bank and MassDevelopment, and Gary Lorden, the owner of Mass Ave Rentals, LLC. No additional information regarding the property or the transaction has been provided.

Players

LENDER


1 deal$2.9M volume
LANDLORD

Details

FINANCED
IMAGE: Dan Rivera DATE: 10/28/2022 ADDRESS: 42-50 & 52 Parker St MARKET: Gardner, MA ASSET TYPE: Multifamily LENDER: Fidelity Bank (@FidelityBankMA) & MassDevelopment (@My_TDI) - Dan Rivera (@DRivera01843) LANDLORD: Mass Ave Rentals, LLC - Gary Lorden LOAN AMOUNT: $2,900,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$2,900,000.00

Monthly NOI$19,333.33
Monthly Debt Service$18,329.97
Change in Cash Flow$0.00
Refinance Proceeds$0.00