Updated Oct 28, 2024
CV Properties, Cannon Hill Capital Partners & L&B Realty Advisors Acquires Life Science Property In Somerville, MA For $278M With JLL Reps
101 South Street, Somerville, Massachusetts 02143, United States
$278,000,000
$832/SF
Building Size
334,000 SF
Asset Type
Other
Closing
Sep 7, 2022
About this deal
AI
The property involved in this transaction is a life science asset located at 101 South St in Somerville, MA. It has a total square footage of 334,000 and is owned by CV Properties, Cannon Hill Capital Partners, and L&B Realty Advisors.
Summary of transaction details:
- Property Type: Life Science
- Transaction Amount: $278,000,000
- Loan Amount: $278,000,000
- Loan Type: Construction Loan
- Landlord: CV Properties, Cannon Hill Capital Partners, and L&B Realty Advisors
- Brokers: Anthony Cutone & Henry Schaffer - JLL
This transaction involved a construction loan of $278,000,000. The loan was obtained for the development of the aforementioned life science property located at 101 South St in Somerville, MA. The brokers involved in the deal were Anthony Cutone and Henry Schaffer from JLL.
On the Map
$278,000,000
$832/SF
Other
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Players
Somerville Other Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93