California Public Employees' Retirement System & Pacific Urban Residential Acquire Multifamily Property In Salem, MA For $115M
190 Bridge Street, Salem, MA, USA
$115,000,000
$14/SF
Building Size
8,151,538 SF
Asset Type
MultiFamily
Closing
Jan 7, 2021
AI
The multifamily property located at 190 Bridge Street in Salem, MA has been sold. The property consists of 266 units and was purchased by California Public Employees' Retirement System & Pacific Urban Residential for a total sale price of $115,000,000. This translates to an average price per unit of $432,331.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $115,000,000
- Units: 266
- Price per Unit: $432,331
Al Pace represented the buyer, California Public Employees' Retirement System, and Pacific Urban Residential in this transaction.
Salem MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93