Taurus Investment Holdings Acquires Office Complex In Newton, MA For $92M
SOLD
$92,000,000
Massachusetts
See Similar DealsOffice377,696 SF
Sold 01/05/2022
SOLD
Taurus Investment Holdings Acquires Office Complex In Newton, MA For $92M
7 Wells Ave, Newton, Massachusetts 02461, United States
See Similar DealsOffice377,696 SF
Sold 01/05/2022
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$243
Total Square Footage:377,696 SF
Transaction Type:Sale
The office property located at 7-57, 75-85-95 & 199 Wells Avenue in Newton, MA, was sold for a total price of $92,000,000. The property has a total building square footage (BSF) of 377,696, resulting in a price per building square footage (PPBSF) of $244.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $92,000,000
- Address: 7-57, 75-85-95 & 199 Wells Avenue, Newton, MA
- Market: Newton, MA
- Buyer: Taurus Investment Holdings
- Seller: Angelo, Gordon & Co. & Jumbo Capital Management
The deal was facilitated by Christopher Gray, Peter Merrigan, and Sam Flood.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,906,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$326,856.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$436,126.94
Annual Debt Service$5,233,523.23
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