SOLDOffice
Pembroke Acquires Office Building On 245 Summer Street In Financial District For $728.5M
245 Summer St, Boston, MA 02205, USA
$728,500,000
$847/SF
Building Size
860,000 SF
Asset Type
Office
Closing
Apr 7, 2020
AI
The property involved in this transaction is an office located at 245 Summer Street in the Financial District. The sale took place on 04/08/2020.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $728,500,000
- Square footage: 860,000
- Price per square foot: $847
- Address: 245 Summer Street
- Market: Financial District
The seller of the property was Benderson Development Company, represented by Randy Benderson. The buyer was Pembroke, represented by Edward Johnson & Jack Clark.
Players
Boston Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
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