Cambridge Savings Bank Provides $62M Construction Loan For 219-Unit Multifamily In Dorchester, MA
FINANCED
$62,000,000
Massachusetts
See Similar DealsMultiFamily
Financed 07/26/2022
FINANCED
Cambridge Savings Bank Provides $62M Construction Loan For 219-Unit Multifamily In Dorchester, MA
780 Morrissey Blvd Dorchester, MA 02122, USA
See Similar DealsMultiFamily
Financed 07/26/2022
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Loan
The property involved in this transaction is a multifamily asset located at 780 Morrissey Blvd in Dorchester, MA. It consists of 219 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $62,000,000
- Address: 780 Morrissey Blvd
- Market: Dorchester, MA
- Units: 219
The lender for this transaction is Cambridge Savings Bank, and the landlord is The Michaels Organization. The loan amount for this deal is $62,000,000, and it is a construction loan.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$62,000,000.00
Monthly NOI$413,333.33
Monthly Debt Service$391,882.17
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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