Terra Living Partners Purchases Plymouth Multifamily Asset From MEGRYCO For $12.8M
574 State Road
$12,800,000
$700/SF
Building Size
18,269 SF
Asset Type
MultiFamily
Closing
Jan 15, 2025
AI
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.
Players
Plymouth 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
1.24%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93