Crowd Lending, Inc Provides $2.1M Acquisition Loan For Worcester Package Deal
FINANCED
$2,107,500
Massachusetts
See Similar DealsPackage Deal58,240 SF
Financed
FINANCED
Crowd Lending, Inc Provides $2.1M Acquisition Loan For Worcester Package Deal
5 Winthrop Street
See Similar DealsPackage Deal58,240 SF
Financed
Summary
MASSACHUSETTS
Asset Type:Package Deal
Price Per Square Foot:$36
Total Square Footage:58240 SF
Transaction Type:Loan
A package deal comprising of three properties located at 5, 7 & 9 Winthrop Street and 12 Hillside Street in Worcester, MA has been acquired. The total square footage of the properties is 14,560, making it an attractive investment opportunity. The acquisition was facilitated by the broker, Robert Nichols - MIG Realty, on behalf of the buyer.
Summary of transaction details
- Property Type: Package Deal
- Transaction Amount: $2,107,500
- Lender: Crowd Lending, Inc
- Landlord: Dana Morey
- Broker: Robert Nichols - MIG Realty
- Loan Type: Acquisition
The lender for this transaction was Crowd Lending, Inc, providing a loan amount of $2,107,500. The loan was secured for the purpose of acquiring the package deal. Dana Morey acted as the landlord in this deal. Robert Nichols, from MIG Realty, represented the buyer as their broker.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$2,107,500.00
Monthly NOI$14,050.00
Monthly Debt Service$13,320.83
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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