Updated Feb 16, 2024
ACORE Capital Provides $89.8M Construction Loan For Life Science Facility In Lexington, MA
1050 Waltham Street, Lexington, MA 02421, USA
$89,800,000
$498/SF
Building Size
180,000 SF
Asset Type
Other
Closing
Apr 13, 2021
About this deal
AI
A life science facility located at 1050 Waltham Street in Lexington, MA, was involved in a recent transaction. The property spans 180,000 square feet and is owned by Singerman Real Estate, represented by Seth Singerman, along with Greatland Realty Partners, represented by Philip Dorman and Kevin Sheehan. The lender in this deal was ACORE Capital, represented by Warren de Haan. The transaction took the form of a construction loan, with an amount of $89,800,000.
Summary of transaction details
- Property Type: Life Science Facility
- Transaction Amount: $89,800,000
- Address: 1050 Waltham Street, Lexington, MA
- Market: Lexington, MA
The individuals and companies involved in this transaction include Seth Singerman and Greatland Realty Partners, who represented the landlord, and Warren de Haan from ACORE Capital, who acted as the lender. They played crucial roles in facilitating the construction loan for this life science facility in Lexington.
Players
Lexington Other Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93