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JLL Brokers Secure $193.8M Construction Loan For Life Science Property In Boston

Property Image
SOLD
$193,760,000
Riaz Cassum
Brett Paulsrud
MS

Massachusetts

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Other262,468 SF
Sold 05/09/2022
the dealplayerscompscontact
Property Image
SOLD

JLL Brokers Secure $193.8M Construction Loan For Life Science Property In Boston

1 Au Bon Pain Way, Boston, Massachusetts 02210, United States

See Similar Deals
Other262,468 SF
Sold 05/09/2022
Riaz Cassum
Brett Paulsrud
MS
the dealplayerscompscontact
Contact now

Summary

MASSACHUSETTS
Asset Type:Other
Price Per Square Foot:$738
Total Square Footage:262,468 SF
Transaction Type:Sale

The property involved in this transaction is a Life Science asset located at 1/3 Au Bon Pain Way & Anchor Way Way in Boston, MA. The property spans a total of 262,468 square feet. The transaction took place on 05/09/2022.

Summary of transaction details

  • Property Type: Life Science
  • Transaction Amount: $193,760,000
  • Address: 1/3 Au Bon Pain Way & Anchor Way Way, Boston, MA
  • Market: Boston, MA
  • Lender: citizens''>Citizens
  • Brokers: Brett Paulsrud, Riaz Cassum & Mike Shepard - JLL
  • Loan Type: Construction Loan

The brokers involved in this deal were Brett Paulsrud, Riaz Cassum, and Mike Shepard from JLL. The loan for this transaction amounted to $193,760,000 and it was a construction loan provided by Citizens.

Players

Brett Paulsrud
JLL
Brett Paulsrud
20 deals$2.9B volume(617) 848-1571
BROKER
Riaz Cassum
JLL
Riaz Cassum
8 deals$1.8B volume
BROKER
MS
JLL
Mike Shepard
4 deals$587.3M volume
BROKER
Citizens
Citizens
LENDER

Details

SOLD
IMAGE: Riaz Cassum & Brett Paulsrud DATE: 05/09/2022 ADDRESS: 1/3 Au Bon Pain Way & Anchor Way Way MARKET: Boston, MA ASSET TYPE: Life Science ~ SF: 262,468 LENDER: Citizens BROKERS: Brett Paulsrud, Riaz Cassum & Mike Shepard - JLL LOAN AMOUNT: $193,760,000 LOAN TYPE: Construction Loan

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$688,388.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$918,521.25
Annual Debt Service$11,022,255.02