Updated Jun 5, 2025
MetLife Investment Management And Norges Bank Investment Management Acquire Office Building In Cambridge, MA For $414M
1 Memorial Dr, Cambridge, Massachusetts, USA
$414,000,000
$5,590/SF
Building Size
74,052 SF
Asset Type
Office
Closing
Sep 27, 2021
About this deal
AI
An office building located at 1 Memorial Dr in Cambridge, MA has been involved in a recent transaction. The property was acquired by an undisclosed buyer for an amount of $414,000,000. The transaction involved a loan from JPMorgan Chase Bank to facilitate the acquisition.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $414,000,000
- Address: 1 Memorial Dr, Cambridge, MA
- Market: Cambridge, MA
The lender for the loan was JPMorgan Chase Bank, with Jamie Dimon serving as the representative. The borrower consisted of MetLife Investment Management, represented by Steven J. Goulart, and Norges Bank Investment Management, represented by Nicolai Tangen.
Players
Cambridge 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
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93