Updated Oct 28, 2024
Pacific Urban Residential & California Public Employees' Retirement System Acquires Multifamily Property In Danvers, MA For $106.3M
180 Newbury Street, Danvers, Massachusetts, USA
$106,300,000
$187/SF
Building Size
568,022 SF
Asset Type
MultiFamily
Closing
Nov 16, 2021
About this deal
AI
A multifamily property located at 180 Newbury St in Danvers, MA has been sold for a total of $106,300,000. The property consists of 258 units, with each unit being sold at an average price of $412,016.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $106,300,000
- Address: 180 Newbury St, Danvers, MA
- Market: Danvers, MA
- Buyer: Pacific Urban Residential & California Public Employees' Retirement System - Al Pace
- Units: 258
- Price per Unit: $412,016
The acquisition of this multifamily property was made by Pacific Urban Residential and the California Public Employees' Retirement System, represented by Al Pace.
On the Map
$106,300,000
$187/SF
MultiFamily
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Danvers 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
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93