Newmark Brokers Secure $514M Loan For BioMed Realty's Assembly Square Life Science Property
Assembly Square, Somerville, Massachusetts, United States
$514,000,000
$1,059/SF
Building Size
485,000 SF
Asset Type
Other
Closing
Jul 31, 2022
AI
The life science property located in Somerville, MA at Assembly Square has been involved in a closed transaction. The property spans a total area of 485,000 square feet, making it a significant asset in the market.
Summary of transation details
- Property Type: Life Science
- Transaction Amount: $514,000,000
- Address: Assembly Square, Somerville, MA
- Market: Somerville, MA
Leading the transaction as the landlord is BioMed Realty. On the other hand, representing the deal are David Douvadjian Sr, Timothy O'Donnell, Brian Butler, David Douvadjian Jr, and Conor Reenstierna, all from Newmark.
This transaction involves a loan amount of $514,000,000.
Players
Somerville 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
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93