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CV Properties, Cannon Hill Capital Partners & L&B Realty Advisors Acquires Life Science Property In Somerville, MA For $278M With JLL Reps

Property Image
FINANCED
$278,000,000
Anthony Cutone
Henry Schaffer

Massachusetts

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Other334,000 SF
Financed 09/08/2022
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Property Image
FINANCED

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

See Similar Deals
Other334,000 SF
Financed 09/08/2022
Anthony Cutone
Henry Schaffer
the dealplayerscompscontact
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Summary

MASSACHUSETTS
Asset Type:Other
Price Per Square Foot:$832
Total Square Footage:334,000 SF
Transaction Type:Loan

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.

Players

Henry Schaffer
JLL
Henry Schaffer
16 deals$1.6B volume(617) 848-5859
BROKER
Anthony Cutone
JLL
Anthony Cutone
6 deals$979.9M volume
BROKER
LA
L&B Realty Advisors
LANDLORD
CP
Cannon Hill Capital Partners
LANDLORD

Details

FINANCED
IMAGE: Henry Schaffer & Anthony Cutone DATE: 09/08/2022 ADDRESS: 101 South St MARKET: Somerville, MA ASSET TYPE: Life Science ~ SF: 334,000 LANDLORD: CV Properties (@CVProperties), Cannon Hill Capital Partners & L&B Realty Advisors BROKERS: Anthony Cutone & Henry Schaffer (@TheSchafeShow) - JLL (@JLL) LOAN AMOUNT: $278,000,000 LOAN TYPE: Construction Loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$278,000,000.00

Monthly NOI$1,853,333.33
Monthly Debt Service$1,757,149.11
Change in Cash Flow$0.00
Refinance Proceeds$0.00