MetLife Investment Management & Norges Bank Investment Management Acquire Office Building In Cambridge, MA For $825M
1 Memorial Drive, Cambridge, MA, USA
$825,000,000
$2,015/SF
Building Size
409,422 SF
Asset Type
Office
Closing
Aug 26, 2021
AI
The property involved in this transaction is an office located at 1 Memorial Dr in Cambridge, MA. The sale took place on 08/26/2021.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $825,000,000
- Seller: J.P. Morgan Global Alternatives & Oxford Properties Group
- Buyer: metlife-investment-management'>metlife-investment-management'>metlife-investment-management'>MetLife Investment Management & Norges Bank Investment Management
- SF: 409,422
- Price per square foot: $2,015
The seller of the office property was J.P. Morgan Global Alternatives & Oxford Properties Group, while the buyer was metlife-investment-management'>metlife-investment-management'>metlife-investment-management'>MetLife Investment Management & Norges Bank Investment Management.
Players
Cambridge Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.02%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93