Terra Living Partners Purchases Plymouth Multifamily Asset From MEGRYCO For $12.8M
SOLD
$12,800,000
+ 4
Massachusetts
See Similar DealsMultiFamily18,269 SF
Sold 01/15/2025
SOLD
Terra Living Partners Purchases Plymouth Multifamily Asset From MEGRYCO For $12.8M
574 State Road
See Similar DealsMultiFamily18,269 SF
Sold 01/15/2025
+ 4
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$700
Total Square Footage:18,269 SF
Transaction Type:Sale
The multifamily asset sold is located at 574 State Road in Plymouth, MA. It consists of 55 units and was sold for $12,800,000, equating to a price per unit of $232,727.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $12,800,000
- Units: 55
- Price Per Unit: $232,727
- Buyer: Terra Living Partners
- Seller: MEGRYCO
- Seller's Representative: Jonathan Bryant, Christopher Sower, John Flaherty, Bruce Lusa, Kevin Jones, Mary VanNatta & Julie Regan - Cushman & Wakefield
The transaction involved key representatives from Cushman & Wakefield, who facilitated the deal for the seller MEGRYCO. This team played a critical role in navigating the sales process and ensuring a successful transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$682,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$45,475.69
Cash-on-Cash Return-1.27%
Monthly Debt Service$60,678.53
Annual Debt Service$728,142.36
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