Updated Oct 29, 2024
Hajjar Management Co., Inc Acquires School In Fall River, MA For $7.4M Loan From Rockland Trust
34 Saint Joseph St, Fall River, MA
$7,400,000
$162/SF
Building Size
45,640 SF
Asset Type
Other
Closing
Dec 16, 2022
About this deal
AI
A school located at 34 Saint Joseph St in Fall River, MA, with a total area of 45,640 square feet and 48 units, has recently undergone a redevelopment project funded by a loan.
Summary of transaction details
- Property Type: School
- Transaction Amount: $7,400,000
- Market: Fall River, MA
- Address: 34 Saint Joseph St
- Square Footage: 45,640
- Units: 48
The loan for this project was provided by Rockland Trust, with Erin Williams representing the lender. Hajjar Management Co., Inc, led by Chuck Hajjar, serves as the landlord for the property.
This redevelopment loan amounted to $7,400,000 and was obtained for the purpose of revitalizing the school property located at 34 Saint Joseph St in Fall River, MA.
Players
Fall River Other Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.14%
Cash-on-Cash
-0.61%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93