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265 Franklin St, Boston, MA...

Clarendon Properties & BlackRock Secure $150M Loan For 265 Franklin Street Office In Boston, MA
FINANCEDOffice

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

AE
Allianz Real EstateLender

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