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Corigin Real Estate Group Purchases Property At 10 Connors Ave Mansfield For $15M With Seller's Reps

Property Image
SOLD
$15,000,000
Jon Bryant
John Flaherty
+ 1

Massachusetts

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MultiFamily
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Property Image
SOLD

Corigin Real Estate Group Purchases Property At 10 Connors Ave Mansfield For $15M With Seller's Reps

10 Connors Ave, Mansfield, MA, 02048

See Similar Deals
MultiFamily
Jon Bryant
John Flaherty
+ 1
Contact now

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Sale

The property involved in this transaction is Village at Cedar Heights, a 66-unit apartment community located at 10 Connors Ave, Mansfield, MA, 02048. The property is situated in the Mansfield market, which lies south of Boston. The sale price was $15,000,000.00, and the square footage is noted as 0.

Summary of transaction details:

The deal was brokered by Colliers International, with Bruce Lusa, Jonathan Bryant, John Flaherty, and Maggie Collins representing the seller and developer, Turner Brothers. The buyer, Corigin Real Estate Group, based in Manhattan, is expected to implement a value-add program for the property.

Players

Bruce Lusa
62 deals$899.9M volume(617) 448-6308
BROKER

John Flaherty
JLL
56 deals$797.1M volume(617) 997-1557
BROKER

Jon Bryant
JLL
57 deals$804.6M volume(508) 505-0832
BROKER

Jon Bryant
JLL
57 deals$804.6M volume(508) 505-0832
BROKER

Maggie Collins
Colliers
2 deals$18.9M volume
BROKER

Details

SOLD
IMAGE: 10 Connors Ave, Mansfield, MA, 02048 MARKET: Mansfield SELLER'S REP: Maggie Collins -Colliers International, Bruce Lusa, John Flaherty, Jonathan (Jon) Bryant -Cushman & Wakefield BUYER: Corigin Real Estate Group PRICE: $15,000,000.00 SF: 0

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$799,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$53,291.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$71,107.65
Annual Debt Service$853,291.83