Updated Oct 29, 2024
North Colony Asset Management Acquires Properties From Campanelli For $28.35 Million In Quincy
108 Myrtle St, Quincy, MA, 02171
$28,350,000
$176/SF
Building Size
160,912 SF
Asset Type
Office
Closing
Nov 19, 2023
About this deal
AI
The property involved in this transaction is located at 108 Myrtle St, Quincy, MA, 02171. The sale was for a total price of $28,350,000.00 and encompasses a total square footage of 160,912. The property is situated in the Quincy market.
Summary of transaction details:
- Property Type: Class A office building
- Transaction Amount: $28,350,000.00
- Address: 108 Myrtle St, Quincy, MA, 02171
- Market: Quincy
- Seller: Campanelli
- Buyer: North Colony Asset Management
- Seller's Representative: Matthew (Matt) Pullen - Newmark
- Broker: Edward Maher - Newmark
- Square Footage: 160,912
The transaction was overseen by a team from Newmark, including U.S. head of capital markets Robert Griffin, vice chairman Edward Maher, executive managing director Matthew Pullen, director James Tribble, and associate director Samantha Hallowell. The sale was executed on behalf of Campanelli, a firm with extensive development experience in Quincy, with support from other NKF personnel such as Michael Frisoli and Tyler McGrail.
Players
Quincy 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
0.56%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93