Updated Oct 28, 2024
Beacon Communities LLC Refinances 120-Unit Multifamily Property In Brockton For $4.1M With MassHousing And Rockport Mortgage
469 Pine Grove Dr, Brockton, Massachusetts 02301, United States
$4,100,000
Units
120
Asset Type
MultiFamily
Closing
May 24, 2022
About this deal
AI
Located at 469 Pine Grove Dr in Brockton, MA, this multifamily property consisting of 120 units was recently involved in a refinancing deal. The transaction took place on 05/25/2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,100,000
- Address: 469 Pine Grove Dr
- Market: Brockton, MA
- Lender: masshousing''>MassHousing - Chrystal Kornegay & Rockport Mortgage - Dan Lyons
- Landlord: Beacon Communities LLC - Mary Corthell
Chrystal Kornegay from MassHousing and Dan Lyons from Rockport Mortgage represented the lenders in the refinancing deal for this property. Mary Corthell, representing Beacon Communities LLC, acted as the landlord.
Players
Brockton 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
3.87%
Cash-on-Cash
-1.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93