Fantini & Gorga Represents $23M Construction Loan For Office Property At 222 Brooks St, Worcester, MA
FINANCED
$23,000,000
Massachusetts
See Similar DealsOffice30,000 SF
Financed 12/10/2021
FINANCED
Fantini & Gorga Represents $23M Construction Loan For Office Property At 222 Brooks St, Worcester, MA
222 Brooks Street, Worcester, MA 01606
See Similar DealsOffice30,000 SF
Financed 12/10/2021
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$766
Total Square Footage:30,000 SF
Transaction Type:Loan
222 Brooks St in Worcester, MA was the site of a recent closed property transaction. The property, an office space, was sold for a loan amount of $23,000,000. The transaction was a construction loan, indicating that the funds were used for the development or renovation of the property.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $23,000,000
The deal was facilitated by broker Derek Coulombe from Fantini & Gorga, who represented the parties involved in the transaction. Coulombe's expertise in the market played a significant role in successfully closing the deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$23,000,000.00
Monthly NOI$153,333.33
Monthly Debt Service$145,375.65
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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