Updated Oct 29, 2024
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.
On the Map
$27,000,000
$9/SF
Office
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Players
Tewksbury Office Market Snapshot
Boundary boundary · Office · Loan transactions
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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