Updated Oct 28, 2024
KS Partners, LLC Secures $21.5M Loan For Lowell, MA Office Property
59 Lowes Way, Lowell, Massachusetts 01851, United States
$21,500,000
$107/SF
Building Size
199,783 SF
Asset Type
Office
Closing
Dec 10, 2021
About this deal
AI
59 Lowes Way & 41 Wellman St, located in Lowell, MA, has been transacted in a recent deal. This office property spans across 199,783 square feet, making it a sizable asset in the market. The transaction took place on 12/10/2021.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $21,500,000
- Market: Lowell, MA
- Asset Type: Office
- Square Footage: 199,783
The property was leased by KS Partners, LLC. Representing the deal was Mike Marcone from Marcone Capital, Inc. Mike Marcone acted as the broker in this transaction.
Players
Lowell 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
0.74%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93