Realty Income Acquires Resort In Everett, MA For $1.7B
SOLD
$1,700,000,000
Massachusetts
See Similar DealsOther
Sold 02/22/2022
SOLD
Realty Income Acquires Resort In Everett, MA For $1.7B
1 Broadway, Everett, Massachusetts 02149, United States
See Similar DealsOther
Sold 02/22/2022
Summary
MASSACHUSETTS
Asset Type:Other
Transaction Type:Sale
The property involved in this transaction is a resort located at 1 Broadway in Everett, MA. The sale price for this property was $1,700,000,000. The transaction took place on 02/22/2022.
Summary of transaction details:
- Property Type: Resort
- Transaction Amount: $1,700,000,000
The buyer of the property was REIT Realty Income represented by Sumit Roy. The seller of the property was Wynn Resorts represented by Craig Billings.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$90,666,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,039,740.92
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,058,867.30
Annual Debt Service$96,706,407.59
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