Updated Oct 29, 2024
SCG Development Acquires School In Fairhaven MA For $10.5M With Lender Rockland Trust
347 Main Street, Fairhaven, Massachusetts, USA
$10,500,000
$3,187/SF
Building Size
3,294 SF
Asset Type
Other
Closing
Apr 8, 2021
About this deal
AI
The property involved in this transaction is a school located at 347 Main Street in Fairhaven, MA. The loan amount for this transaction is $10,500,000. The landlord of the property is SCG Development, represented by Keith McDonald. The lender for this transaction is Rockland Trust, represented by John Quintal.
Summary of transaction details
- Property Type: School
- Transaction Amount: $10,500,000
- Address: 347 Main Street, Fairhaven, MA
- Landlord: SCG Development - Keith McDonald
- Lender: Rockland Trust - John Quintal
The key individuals involved in this deal are Keith McDonald who represents SCG Development as the landlord and John Quintal who represents Rockland Trust as the lender. They played crucial roles in facilitating this loan transaction for the school property at 347 Main Street in Fairhaven, MA.
Players
Fairhaven Other Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.51%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93