Wayne Clough Acquires Office/Retail Property In Boston, MA With $13M Refinance Loan
420 Boylston Street, Boston, Massachusetts 02116, United States
$13,000,000
Building Size
—
Asset Type
Office
Closing
Apr 27, 2022
AI
The property at 420 Boylston St in Boston, MA recently underwent a loan refinance. The transaction, which took place on April 28, 2022, involved a loan amount of $13,000,000. The property is classified as an Office/Retail asset and is located in a prime market in Boston.
Summary of transaction details
- Property Type: Office/Retail
- Transaction Amount: $13,000,000
- Loan Type: Refinance
- Loan Terms: Ten-year fixed rate non-recourse loan
- Address: 420 Boylston St, Boston, MA
- Market: Boston, MA
The loan was facilitated by brokers Wayne Clough and Colin Monahan of Fantini & Gorga. They played a crucial role in securing the loan and ensuring a successful refinancing process for the property.
Players
Boston Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.22%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93