ACORE Capital Provides $64.9M Construction Loan For Life Sciences Property In Watertown, MA
23-29 Elm St, Watertown, MA 02472
$64,900,000
$894/SF
Building Size
72,522 SF
Asset Type
Other
Closing
Apr 28, 2022
AI
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.
Players
Watertown Other Market Snapshot
Boundary boundary · Other · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93