Berkeley Investments Inc. Acquires Multifamily Properties In Lawrence, MA For $95M
SOLD
$95,000,000
Massachusetts
See Similar DealsMultiFamily335,954 SF
Sold 03/22/2021
SOLD
Berkeley Investments Inc. Acquires Multifamily Properties In Lawrence, MA For $95M
240 Canal Street, Lawrence, MA, USA
See Similar DealsMultiFamily335,954 SF
Sold 03/22/2021
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$282
Total Square Footage:335,954 SF
Transaction Type:Sale
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
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Top Markets for Multifamily Investment ReportFall 2025
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,066,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$337,514.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$450,348.47
Annual Debt Service$5,404,181.60
Is there something missing? Send suggestions