South Norfolk Elderly Housing Services & Peabody Properties Secure $16.4M Loan For 99-Unit Multifamily In Sharon, MA From MassHousing And Rockport Mortgage Corporation
FINANCED
$16,400,000
Massachusetts
See Similar DealsMultiFamily78,765 SF
Financed 07/27/2022
FINANCED
South Norfolk Elderly Housing Services & Peabody Properties Secure $16.4M Loan For 99-Unit Multifamily In Sharon, MA From MassHousing And Rockport Mortgage Corporation
51 Hixson Farm Road, Sharon, Massachusetts 02067, United States
See Similar DealsMultiFamily78,765 SF
Financed 07/27/2022
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$208
Total Square Footage:78,765 SF
Transaction Type:Loan
Located at 51 Hixson Farm Rd in Sharon, MA, this multifamily property consists of 99 units. The transaction took place on July 27, 2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $16,400,000
- Address: 51 Hixson Farm Rd, Sharon, MA
- Market: Sharon, MA
- Units: 99
The loan for this transaction was provided by masshousing''>MassHousing, represented by Chrystal Kornegay, and Rockport Mortgage Corporation, represented by Dan Lyons. The landlords involved in the deal are South Norfolk Elderly Housing Services and Peabody Properties.
Chrystal Kornegay from MassHousing and Dan Lyons from Rockport Mortgage Corporation played key roles as lenders in this deal, ensuring the financing for the $16,400,000 loan. It is worth mentioning that South Norfolk Elderly Housing Services and Peabody Properties acted as the landlords in this transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$16,400,000.00
Monthly NOI$109,333.33
Monthly Debt Service$103,659.16
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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