Corigin Real Estate Group Purchases Property At 10 Connors Ave Mansfield For $15M With Seller's Reps
10 Connors Ave, Mansfield, MA, 02048
$15,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 19, 2023
AI
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:
- Property Type: Apartment Community
- Transaction Amount: $15,000,000.00
- Address: 10 Connors Ave, Mansfield, MA, 02048
- Market: Mansfield
- Seller's Representative: Maggie Collins - Colliers International, Bruce Lusa, John Flaherty, Jonathan (Jon) Bryant - Cushman & Wakefield
- Buyer: Corigin Real Estate Group
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
Mansfield MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93