Barings Acquires Life Science Property In Bedford, MA For $132M
SOLD
$132,000,000
+ 3
Massachusetts
See Similar DealsOther143,553 SF
Sold 06/09/2022
SOLD
Barings Acquires Life Science Property In Bedford, MA For $132M
1 Patriots Park, Bedford, Massachusetts 01730, United States
See Similar DealsOther143,553 SF
Sold 06/09/2022
+ 3
Summary
MASSACHUSETTS
Asset Type:Other
Price Per Square Foot:$919
Total Square Footage:143,553 SF
Transaction Type:Sale
Barings has acquired a life science property located at 1 Patriots Park in Bedford, MA. The property spans 143,553 square feet and was sold for a total price of $132,000,000. The sale price per square foot was $920.
Summary of transaction details
- Property Type: Life Science
- Transaction Amount: $132,000,000
- Date: 06/09/2022
- Address: 1 Patriots Park, Bedford, MA
- Market: Bedford, MA
- Buyer: Barings
- Seller: Jumbo Capital - Nick Trocki & Jay Hirsh
- Brokers: Robert Griffin, Edward Maher, Matthew Pullen & Samantha Hallowell - Newmark
The deal involved prominent individuals including Robert Griffin, Edward Maher, Matthew Pullen, and Samantha Hallowell from Newmark who represented the buyer and seller in the transaction.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,039,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$468,968.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$625,747.34
Annual Debt Service$7,508,968.12
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