IGHW Acquires Office Building In Fenway For $270M
SOLD
$270,000,000
+ 4
Massachusetts
See Similar DealsOffice285,000 SF
Sold 02/14/2020
SOLD
IGHW Acquires Office Building In Fenway For $270M
109 Brookline Ave, Boston, MA 02215, USA
See Similar DealsOffice285,000 SF
Sold 02/14/2020
+ 4
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$947
Total Square Footage:285,000 SF
Transaction Type:Sale
The office property located at 109 Brookline Street in Fenway was sold in a closed transaction. The property spans 285,000 square feet and was sold for a total price of $270,000,000, resulting in a price per square foot of $947.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $270,000,000
- Square Footage: 285,000
- Price per Square Foot: $947
- Address: 109 Brookline Street, Fenway
The seller of the property was Equity Commonwealth, represented by David Helfand. The buyer, IGHW, was represented by Matthew Pullen, Edward Maher, Robert Griffin, Frank Nelson, Matthew Greeley, Samantha Hallowell, and Blake McLaughlin.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$14,400,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$959,252.97
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,279,937.75
Annual Debt Service$15,359,252.97
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