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77 Chestnut Street, Lowell,...

Updated Oct 29, 2024

The Caleb Group Secures $7.9M Loan For Multifamily Properties In Lowell, MA With Rockland Trust - Heidi Yates
FINANCEDMultiFamily

The Caleb Group Secures $7.9M Loan For Multifamily Properties In Lowell, MA With Rockland Trust - Heidi Yates

77 Chestnut Street, Lowell, Massachusetts, USA

$7,855,000

Building Size

Asset Type

MultiFamily

Closing

Feb 11, 2021

About this deal

AI

The multifamily property located at 77 Chestnut Street and 80 Bridge Street in Lowell, MA has been involved in a recent transaction. The transaction took place on 02/12/2021 and the property was purchased using a loan. The lender for this transaction was Rockland Trust, represented by Heidi Yates. The loan amount for this transaction was $7,855,000.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $7,855,000
  • Market: Lowell, MA
  • Landlord: The Caleb Group - Debbie Nutter
  • Lender: Rockland Trust - Heidi Yates
  • Address: 77 Chestnut Street & 80 Bridge Street

Debbie Nutter, representing The Caleb Group, acted as the landlord in this transaction. Heidi Yates, representing Rockland Trust, served as the lender. Both parties played vital roles in making this multifamily property transaction possible.

Players

Rockland Trust
Rockland TrustLender

Lowell 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

2.02%

Cash-on-Cash

-0.58%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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