Updated Oct 29, 2024
Berkeley Investments Inc. Acquires Multifamily Properties In Lawrence, MA For $95M
240 Canal Street, Lawrence, MA, USA
$95,000,000
$282/SF
Building Size
335,954 SF
Asset Type
MultiFamily
Closing
Mar 21, 2021
About this deal
AI
The multifamily property located at 240 Canal Street and 270 Canal Street in Lawrence, MA was sold in a recent transaction. The property consists of 425 units and was sold for a total price of $95,000,000, resulting in a per unit price of $223,529. The sale took place on 03/22/2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $95,000,000
- Units: 425
- Price Per Unit: $223,529
- Seller: SMC Washington Mills Apartments Limited Partnership & SMC Washington Mills Apartments II Limited Partnership
- Buyer: Berkeley Investments Inc.
- Brokers: Jennifer Athas & Matt Olson - Berkadia
Jennifer Athas and Matt Olson from Berkadia represented the buyer, Berkeley Investments Inc., in the transaction. They played a key role in facilitating the sale of the multifamily property located in Lawrence, MA.
Players
Lawrence 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
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93