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DLJ Real Estate Capital Partners, Leggat McCall Properties, Deutsche Finance America & Oxford Properties Group Secure $230M Construction Loan For Life Science Property In Somerville, MA

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FINANCED
$230,000,000
Henry Schaffer
Brett Paulsrud
MS

Massachusetts

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Other262,000 SF
Financed 08/15/2022
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FINANCED

DLJ Real Estate Capital Partners, Leggat McCall Properties, Deutsche Finance America & Oxford Properties Group Secure $230M Construction Loan For Life Science Property In Somerville, MA

15 Mcgrath Highway, Somerville, Massachusetts 02143, United States

See Similar Deals
Other262,000 SF
Financed 08/15/2022
Henry Schaffer
Brett Paulsrud
MS
the dealplayerscompscontact
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Summary

MASSACHUSETTS
Asset Type:Other
Price Per Square Foot:$877
Total Square Footage:262,000 SF
Transaction Type:Loan

DLJ Real Estate Capital Partners, Leggat McCall Properties, Deutsche Finance America, and Oxford Properties Group have obtained a $230,000,000 construction loan for a life science property located at 15 McGrath Hwy in Somerville, MA. The property spans 262,000 square feet and is situated in the local market.

Summary of transaction details:

  • Property Type: Life Science
  • Transaction Amount: $230,000,000
  • Address: 15 McGrath Hwy
  • Market: Somerville, MA
  • Asset Area: 262,000 square feet

The loan was secured by DLJ Real Estate Capital Partners, Leggat McCall Properties, Deutsche Finance America, and Oxford Properties Group. The brokers involved in the deal were Brett Paulsrud, Henry Schaffer, and Mike Shepard from JLL.

Players

Henry Schaffer
JLL
Henry Schaffer
16 deals$1.6B volume(617) 848-5859
BROKER
Brett Paulsrud
JLL
Brett Paulsrud
20 deals$2.9B volume(617) 848-1571
BROKER
MS
JLL
Mike Shepard
4 deals$587.3M volume
BROKER
Oxford Properties Group
Oxford Properties Group
BROKERAGE
Oxford Properties Group
Oxford Properties Group
LANDLORD
DP
DLJ Real Estate Capital Partners
LANDLORD
LP
Leggat McCall Properties
LANDLORD
DA
Deutsche Finance America
LANDLORD

Details

FINANCED
IMAGE: Brett Paulsrud & Henry Schaffer DATE: 08/15/2022 ADDRESS: 15 McGrath Hwy MARKET: Somerville, MA ASSET TYPE: Life Science ~ SF: 262,000 LANDLORD: DLJ Real Estate Capital Partners, Leggat McCall Properties, Deutsche Finance America & Oxford Properties Group BROKERS: Brett Paulsrud, Henry Schaffer & Mike Shepard - JLL LOAN AMOUNT: $230,000,000 LOAN TYPE: Construction loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$230,000,000.00

Monthly NOI$1,533,333.33
Monthly Debt Service$1,453,756.45
Change in Cash Flow$0.00
Refinance Proceeds$0.00