Updated Dec 21, 2023
NorthMarq Provides $5.5M Loan For Apartment On Pawtucket Blvd In Lowell, MA
605 Pawtucket Blvd, Lowell, MA 01854, USA
$5,500,000
$91/SF
Building Size
60,300 SF
Asset Type
Other
Closing
Aug 6, 2020
About this deal
AI
The apartment located at 605 Pawtucket Blvd in Lowell, MA has recently undergone a transaction. The deal was facilitated by Robert Ranieri of NorthMarq. The property has been financed with a loan amount of $5,500,000.
Summary of Transaction Details
- Property Type: Apartment
- Loan Amount: $5,500,000
- Loan Terms: 10-year loan, 30-year amortization
The loan, with a term of 10 years and an amortization period of 30 years, will provide the necessary financial support for the property. The transaction, orchestrated by Robert Ranieri of NorthMarq, ensures the continuation of this apartment complex in Lowell, MA.
On the Map
$5,500,000
$91/SF
Other
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93