L3 Capital Secures $56M Construction Financing For Retail And Office Property In Boston, MA
FINANCED
$56,000,000
+ 1
Massachusetts
See Similar DealsOffice43,500 SF
Financed 02/07/2022
FINANCED
L3 Capital Secures $56M Construction Financing For Retail And Office Property In Boston, MA
149 Newbury Street, Boston, Massachusetts 02116, United States
See Similar DealsOffice43,500 SF
Financed 02/07/2022
+ 1
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$1,287
Total Square Footage:43,500 SF
Transaction Type:Loan
The property involved in this closed transaction is a retail and office space located at 149 Newbury St in Boston, MA. The property has a total square footage of 43,500.
Summary of transaction details
- Property Type: Retail & Office
- Transaction Amount: $56,000,000
- Address: 149 Newbury St, Boston, MA
- Lender: Bank of New England & Needham Bank
- Landlord: L3 Capital
- Brokers: Jonathan Schneider, Michael Morretta, Patrick Nugent & Bryan Sparkes - JLL
The loan for this transaction was provided as construction financing. The lenders involved in this deal were Bank of New England and Needham Bank.
Players
LENDER
LENDER
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$56,000,000.00
Monthly NOI$373,333.33
Monthly Debt Service$353,958.09
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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