Ares Management Provides $82.2M Redevelopment Financing For Office Property In Bedford, MA
FINANCED
$82,200,000
Massachusetts
See Similar DealsOffice166,000 SF
Financed 08/22/2022
FINANCED
Ares Management Provides $82.2M Redevelopment Financing For Office Property In Bedford, MA
14 Oak Park Drive, Bedford, Massachusetts 01730, United States
See Similar DealsOffice166,000 SF
Financed 08/22/2022
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$495
Total Square Footage:166,000 SF
Transaction Type:Loan
The property involved in this transaction is an office space located at 14 Oak Park Drive in Bedford, MA. It spans a total square footage of 166,000. The deal was closed on 08/22/2022.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $82,200,000
- Market: Bedford, MA
- Lender: Ares Management
- Landlord: Redgate & AEW Capital
- Brokers: Tom Sullivan & Ross Fishman - Cushman & Wakefield
- Loan Type: Redevelopment financing
The lender in this transaction was Ares Management. The landlord involved was Redgate & AEW Capital. The brokers representing the deal were Tom Sullivan and Ross Fishman from Cushman & Wakefield. The loan amount for this redevelopment project was $82,200,000.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$82,200,000.00
Monthly NOI$548,000.00
Monthly Debt Service$519,559.92
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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