Updated Oct 28, 2024
MassDevelopment Provides $107M Loan For Springfield College School On Alden St
263 Alden Street, Springfield, Massachusetts 01109, United States
$107,000,000
$4,299/SF
Building Size
24,888 SF
Asset Type
Other
Closing
Feb 3, 2022
About this deal
AI
The property involved in this transaction is a school located at 263 Alden St in Springfield, MA. The transaction took place on 02/04/2022. The lender for this transaction was massdevelopment''>MassDevelopment, represented by Dan Rivera. The landlord of the school is Springfield College, represented by William Guerrero.
Summary of transaction details
- Property Type: School
- Transaction Amount: $107,000,000
- Address: 263 Alden St
- Market: Springfield, MA
Dan Rivera from MassDevelopment played a crucial role in this deal as the lender's representative. William Guerrero represented Springfield College as the landlord in this transaction.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93