CARR Properties Acquires Office Building In Downtown Crossing For $242.5M
SOLD
$242,500,000
+ 4
Massachusetts
See Similar DealsOffice853,319 SF
Sold 03/13/2020
SOLD
CARR Properties Acquires Office Building In Downtown Crossing For $242.5M
75-101 Federal St, Boston, MA 02110, USA
See Similar DealsOffice853,319 SF
Sold 03/13/2020
+ 4
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$284
Total Square Footage:853,319 SF
Transaction Type:Sale
The office property located at 75-101 Federal Street in Downtown Crossing has been sold for a total of $242,500,000. The property spans a total area of 853,319 square feet, resulting in a price per square foot of $568.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $242,500,000
- Address: 75-101 Federal Street
- Market: Downtown Crossing
The seller of the property is the Rockpoint Group, represented by Keith Gelb and Bill Walton. The buyer is CARR Properties, represented by Oliver Carr. The brokers involved in the deal include Robert Griffin, Keith Gelb, Edward Mahe, Oliver Carr, Matthew Pullen, Bill Walton, and Samantha Hallowell.
Players
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$12,933,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$861,551.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,149,573.72
Annual Debt Service$13,794,884.61
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