North River Leerink Secures $192.5M Construction Financing For Life Sciences Property At 100 Chestnut St, Somerville, MA
100 Chestnut Street, Somerville, Massachusetts 02143, United States
$192,500,000
$962/SF
Building Size
200,000 SF
Asset Type
Other
Closing
Jul 6, 2022
AI
The property involved in this transaction is a life sciences asset located at 100 Chestnut St in Somerville, MA. It spans a total area of 200,000 square feet. The transaction took place on 07/07/2022.
Summary of transaction details:
- Property Type: Life Sciences
- Transaction Amount: $192,500,000
- Address: 100 Chestnut St, Somerville, MA
- Market: Somerville, MA
- Landlord: North River Leerink
- Brokers: Jeff Black, Kevin Phelan, Sean Burke, and Bryan Koop - Colliers
The loan associated with this transaction amounted to $192,500,000 and was obtained for the purpose of construction financing.
Players
Somerville Other Market Snapshot
Boundary boundary · Other · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93