Intercontinental Real Estate Acquires Office Property In Cambridge For $101.25M
SOLD
$101,250,000
Massachusetts
See Similar DealsOffice95,000 SF
Sold 11/30/2020
SOLD
Intercontinental Real Estate Acquires Office Property In Cambridge For $101.25M
955 Massachusetts Ave, Boston, MA 02118, USA
See Similar DealsOffice95,000 SF
Sold 11/30/2020
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$1,065
Total Square Footage:95,000 SF
Transaction Type:Sale
An office property located at 955 Massachusetts Avenue in Cambridge has been sold in a closed transaction. The property spans across 95,000 square feet.
Summary of transaction details
- Property Type: Office
- Sale Price: $101,250,000
- Square Footage: 95,000
- Market: Cambridge
The seller of the property was DivcoWest Real Estate Investments, represented by Stuart Shiff, Robert Mashaal, and Mike Carp. The buyer was Intercontinental Real Estate Corp., represented by Peter Palandjian and Paul Nasser.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,400,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$359,719.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$479,976.66
Annual Debt Service$5,759,719.86
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