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Affiliate Of Stockbridge Ventures Acquires Multifamily Property In Springfield, MA For $42.6M

Property Image
SOLD
$42,600,000

Massachusetts

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MultiFamily
Sold 11/07/2022
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Property Image
SOLD

Affiliate Of Stockbridge Ventures Acquires Multifamily Property In Springfield, MA For $42.6M

35 Willow Street, Springfield, Massachusetts 01105, United States

See Similar Deals
MultiFamily
Sold 11/07/2022
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Sale

A multifamily property located at 35 Willow Street in Springfield, MA has been sold for a total transaction value of $42,600,000. The property consists of 233 units, resulting in a price per unit (PPU) of $182,833. The sale took place on November 7, 2022.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $42,600,000
  • Address: 35 Willow Street
  • Market: Springfield, MA
  • Units: 233
  • Price Per Unit (PPU): $182,833

The buyer in this transaction was an affiliate of Stockbridge Ventures, while the seller was an affiliate of The Dolben Company. The deal was facilitated by Simon Butler, Biria St. John, and John McLaughlin of CBRE.

Players

Simon Butler
33 deals$2.5B volume
BROKER

Biria St. John
CBRE
32 deals$2.5B volume
BROKER

John McLaughlin
CBRE
27 deals$2.3B volume
BROKER

SELLER

Details

SOLD
IMAGE: Simon Butler, John McLaughlin & Biria St. John DATE: 11/07/2022 ADDRESS: 35 Willow Street MARKET: Springfield, MA ASSET TYPE: Multifamily BUYER: Affiliate of Stockbridge Ventures SELLER: Affiliate of The Dolben Company BROKERS: Simon Butler, Biria St. John & John McLaughlin - CBRE (@CBRE) SALE PRICE: $42,600,000 UNITS: 233 ~ PPU: $182,833

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,272,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$151,348.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$201,945.73
Annual Debt Service$2,423,348.80