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
$230,000,000
$877/SF
Building Size
262,000 SF
Asset Type
Other
Closing
Aug 14, 2022
AI
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
Somerville Other Market Snapshot
Boundary boundary · Other · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93