EQT Exeter Acquires Multifamily Property In Boston, MA For $145M
SOLD
$145,000,000
Massachusetts
See Similar DealsMultiFamily
Sold
SOLD
EQT Exeter Acquires Multifamily Property In Boston, MA For $145M
1550 Soldiers Field Road, Boston, Massachusetts 02135, United States
See Similar DealsMultiFamily
Sold
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 1550 Soldiers Field Rd in Boston, MA has been sold. The transaction took place on 08/10/2022, with a sale price of $145,000,000. The property consists of 211 units, resulting in a per unit price of $687,204. The buyer of the property was EQT Exeter, while the seller was SMC Management Corp. Webster Bank provided the financing for the sale.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $145,000,000
- Address: 1550 Soldiers Field Rd, Boston, MA
- Market: Boston, MA
- Units: 211
- Price Per Unit: $687,204
EQT Exeter acted as the buyer in the transaction, while SMC Management Corp served as the seller. Webster Bank provided the necessary financing for the sale. This transaction represents a significant investment in the Boston multifamily market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,733,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$515,154.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$687,373.98
Annual Debt Service$8,248,487.71
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