ACORE Capital Provides $64.9M Construction Loan For Life Sciences Property In Watertown, MA
FINANCED
$64,900,000
Massachusetts
See Similar DealsOther72,522 SF
Financed 04/29/2022
FINANCED
ACORE Capital Provides $64.9M Construction Loan For Life Sciences Property In Watertown, MA
23-29 Elm St, Watertown, MA 02472
See Similar DealsOther72,522 SF
Financed 04/29/2022
Summary
MASSACHUSETTS
Asset Type:Other
Price Per Square Foot:$894
Total Square Footage:72,522 SF
Transaction Type:Loan
The recent closed property transaction in Watertown, MA involved a life sciences asset located at 23-29 Elm Street. The property spans a total area of 72,522 square feet.
Summary of transation details
- Property Type: Life Sciences
- Transaction Amount: $64,900,000
- Address: 23-29 Elm Street, Watertown, MA
- Market: Watertown, MA
The loan for this transaction was provided by ACORE Capital, with Kory Klebanoff representing the lender. The Triad Group and Johannes Fruehauf acted as the landlords in the deal. Anthony Cutone from JLL served as the broker for the transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$64,900,000.00
Monthly NOI$432,666.67
Monthly Debt Service$410,212.15
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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