Updated Oct 29, 2024
Eagle Rock Properties Acquires Multifamily Portfolio In Brighton, Framingham, And Nashua For $500M
9 Bronsdon Street, Brighton, Massachusetts 02135, United States
$500,000,000
Units
1,314
Asset Type
MultiFamily
Closing
Jan 12, 2022
About this deal
AI
Eagle Rock Properties has acquired a multifamily asset in Brighton & Framingham, MA; & Nashua, NH. The property, located at 9 Bronsdon St, 50 Dinsmore Ave, 5 Georgetown Drive, 100 Vantage Terrace & 25 Bay Ridge Drive, consists of 1,314 units. The transaction was facilitated by Melnick Real Estate Advisors, with Scott Melnick representing the buyer. The seller, AIR Communities, completed the sale for a total price of $500,000,000, resulting in a per unit price of $380,518.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $500,000,000
- Units: 1,314
- Price Per Unit: $380,518
- Market: Brighton & Framingham, MA; & Nashua, NH
Scott Melnick from Melnick Real Estate Advisors played a crucial role as the broker in this transaction, representing Eagle Rock Properties. This acquisition marks a significant investment by the buyer in the multifamily market, illustrating their continued focus on expanding their portfolio.
Players
Brighton 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
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93