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Norwood Bank Provides $6.9M Refinance Loan For Leicester Multifamily

Property Image
FINANCED
$6,945,000

Massachusetts

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MultiFamily1,800 SF
Financed 05/24/2020
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FINANCED

Norwood Bank Provides $6.9M Refinance Loan For Leicester Multifamily

500 Stafford Street, Leicester, Cherry Valley, Massachusetts, USA

See Similar Deals
MultiFamily1,800 SF
Financed 05/24/2020
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$3,858
Total Square Footage:1,800 SF
Transaction Type:Loan

Located at 500 Stafford Street in Leicester, MA, the multifamily property was recently involved in a closed transaction. The transaction took place on 05/24/2021.

Summary of transaction details:

  • Asset Type: Multifamily
  • Loan Amount: $6,945,000
  • Loan Type: Refinance

Norwood Bank provided the loan for this transaction. Robert Damigella from Marcus & Millichap Boston represented the buyer as the broker.

For more information and images of the property, you can visit the original post on Instagram here.

Players

Robert Damigella
13 deals$103.3M volume
BROKER

Norwood Bank
LENDER

Details

FINANCED
IMAGE: Robert Damigella DATE: 05/24/2021 ADDRESS: 500 Stafford Street MARKET: Leicester, MA ASSET TYPE: Multifamily LENDER: Norwood Bank BROKER: Robert Damigella - Marcus & Millichap Boston (@MarcusMillichap_Boston) LOAN AMOUNT: $6,945,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$6,945,000.00

Monthly NOI$46,300.00
Monthly Debt Service$43,897.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00