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Shorelight RE & Olivella Properties Acquire Fitchburg Multifamily From Taymil Partners For $12.3M

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SOLD
$12,300,000
Julie Regan
Kevin Jones
+ 4

Massachusetts

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MultiFamily544,644 SF
Sold 02/18/2024
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Property Image
SOLD

Shorelight RE & Olivella Properties Acquire Fitchburg Multifamily From Taymil Partners For $12.3M

6 Mary Anna Drive

See Similar Deals
MultiFamily544,644 SF
Sold 02/18/2024
Julie Regan
Kevin Jones
+ 4
Contact now

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$22
Total Square Footage:544,644 SF
Transaction Type:Sale

Shorelight Real Estate and Olivella Properties have acquired a multifamily property located at 6 Mary Anna Drive in Fitchburg, MA. The property consists of 90 units with a total square footage of 544,644. The sale price for this transaction was $12,300,000, resulting in a per unit price of $136,667 and a price per square foot of $23.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $12,300,000
  • Units: 90
  • Price Per Unit (PPU): $136,667
  • Square Footage (SF): 544,644
  • Price Per Square Foot (PPSF): $23
  • Address: 6 Mary Anna Drive, Fitchburg, MA

Cushman & Wakefield represented the seller, Taymil Partners, in this transaction. The seller's representatives included Christopher Sower, Jonathan Bryant, Bruce Lusa, John Flaherty, Kevin Jones, Julie Regan, and Mary VanNatta.

Players

Bruce Lusa
62 deals$899.9M volume(617) 448-6308
BROKER

John Flaherty
JLL
56 deals$797.1M volume(617) 997-1557
BROKER

Jon Bryant
JLL
57 deals$804.6M volume(508) 505-0832
BROKER

Christopher Sower
Cushman & Wakefield
79 deals$1B volume
BROKER

Kevin Jones
Cushman & Wakefield
47 deals$736.3M volume
BROKER

Julie Regan
Cushman & Wakefield
42 deals$491M volume
BROKER

Mary VanNatta
Cushman & Wakefield
42 deals$491M volume
BROKER

SELLER

Details

SOLD
IMAGE: Christopher Sower, Jonathan Bryant, Bruce Lusa, John Flaherty, Kevin Jones, Julie Regan & Mary VanNatta DATE: 02/18/2024 ADDRESS: 6 Mary Anna Drive MARKET: Fitchburg, MA ASSET TYPE: Multifamily BUYER: Shorelight Real Estate & Olivella Properties SELLER: Taymil Partners SELLER'S REP: Christopher Sower (@CSower1), Jonathan Bryant (@Jay_Bry1__), Bruce Lusa, John Flaherty (@J_Flaherty5), Kevin Jones (@KmJones004), Julie Regan & Mary VanNatta - Cushman & Wakefield (@CushWake) SALE PRICE: $12,300,000 UNITS: 90 ~ PPU: $136,667 SF: 544,644 ~ PPSF: $23

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$43,699.31
Cash-on-Cash Return-1.27%
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