Copa Real Estate Investments Acquires Multifamily Asset In Hanover From Jones Street Investment Partners For $25.95M
SOLD
$25,950,000
Massachusetts
See Similar DealsMultiFamily90,000 SF
Sold 11/07/2024
SOLD
Copa Real Estate Investments Acquires Multifamily Asset In Hanover From Jones Street Investment Partners For $25.95M
295 Webster Street
See Similar DealsMultiFamily90,000 SF
Sold 11/07/2024
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$288
Total Square Footage:90,000 SF
Transaction Type:Sale
This multifamily property located at 295 Webster Street in Hanover, MA, was sold for $25,950,000. The asset comprises 76 units and offers a total of 90,000 square feet. The price per unit is $341,447, and the price per square foot is $288.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $25,950,000
- Units: 76
- Square Footage: 90,000
- Price Per Unit: $341,447
- Price Per Square Foot: $288
- Buyer: Copa Real Estate Investments
- Seller: Jones Street Investment Partners
- Seller's Representative: Kevin Gleason - Walker & Dunlop
- Date of Transaction: 11/07/2024
- Market: Hanover, MA
In this transaction, Copa Real Estate Investments acted as the buyer, acquiring the multifamily property from Jones Street Investment Partners, with Kevin Gleason from Walker & Dunlop representing the seller in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,384,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$92,194.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$123,016.24
Annual Debt Service$1,476,194.87
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