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1 Highwood Dr, Tewksbury, M...

Updated Oct 29, 2024

Highwood Office Park Secures $27M Loan For Tewksbury Office Building
FINANCEDOffice

Highwood Office Park Secures $27M Loan For Tewksbury Office Building

1 Highwood Dr, Tewksbury, MA 01876, USA

$27,000,000

$9/SF

Building Size

2,788,590 SF

Asset Type

Office

Closing

Jun 23, 2020

About this deal

AI

An office building located at 1-3 Highwood Drive in Tewksbury has recently been involved in a loan transaction. The loan amount for this property is $27,000,000, and it spans across a total area of 278,859 square feet.

Summary of transaction details

  • Property Type: Office Building
  • Transaction Amount: $27,000,000
  • Square Footage: 278,859
  • Address: 1-3 Highwood Drive
  • Market: Tewksbury

The lender for this loan transaction is Marcone Capital, Inc., represented by Mike Marcone. The borrower in this deal is Highwood Office Park. The brokerage firm involved in this transaction is KS Partners.

Players

MI
Marcone Capital, Inc.Lender

Tewksbury Office Market Snapshot

Boundary boundary · Office · Loan transactions

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Deal FAQ

About $9 per square foot on a published $27M for 2,788,590 square feet (2020).

Browse Massachusetts office loans on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.59%

Cash-on-Cash

-0.17%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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