Clarendon Properties & BlackRock Secure $150M Loan For 265 Franklin Street Office In Boston, MA
265 Franklin St, Boston, MA 02110, USA
$150,000,000
$427/SF
Building Size
350,569 SF
Asset Type
Office
Closing
Oct 25, 2020
AI
Clarendon Properties and BlackRock have secured a $150,000,000 loan for the office property located at 265 Franklin Street in Boston, MA. The asset has a total area of 350,534 square feet and is part of the Boston real estate market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $150,000,000
- Address: 265 Franklin Street, Boston, MA
- Market: Boston, MA
- Borrower: Clarendon Properties & BlackRock
- Lender: Allianz Real Estate - Christoph Donner
Allianz Real Estate, represented by Christoph Donner, acted as the lender for this loan. The loan amount of $150,000,000 will support the acquisition or refinancing of the office property at 265 Franklin Street.
Players
Boston Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93