Hana Financial & KTB Asset Management Acquires Congress Square Office Building In Boston For $342M
SOLD
$342,000,000
+ 1
Massachusetts
See Similar DealsOffice371,996 SF
Sold
SOLD
Hana Financial & KTB Asset Management Acquires Congress Square Office Building In Boston For $342M
40 Walter Street, Boston, Massachusetts 02131, United States
See Similar DealsOffice371,996 SF
Sold
+ 1
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$919
Total Square Footage:371996 SF
Transaction Type:Sale
Congress Square at 40 Water Street, located in Boston, MA, has been sold in a recent transaction. The property is an office asset, encompassing approximately 371,996 square feet. The sale was finalized on December 23, 2021.
Summary of transaction details:
- Property Type: Office
- Sale Price: $342,000,000
- Price per Square Foot: $919
- Buyer: Hana Financial & KTB Asset Management
- Seller: Related Fund Management
- Broker: Paul Gillen, Anthony Ledesma, Daniel Parker & Allie Boyan - Hodges Ward Elliott
Hana Financial & KTB Asset Management acquired Congress Square at 40 Water Street from Related Fund Management. Leading the transaction were brokers Paul Gillen, Anthony Ledesma, Daniel Parker, and Allie Boyan of Hodges Ward Elliott. They facilitated the deal between the buyer and seller.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$18,240,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$1,215,053.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,621,254.48
Annual Debt Service$19,455,053.76
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