Updated Jun 6, 2025
Bierbrier Development Secures $12.28M Loan For Massachusetts Avenue Retail Property
323 Centre Avenue, Abington, MA, USA
$12,280,000
$466/SF
Building Size
26,300 SF
Asset Type
Retail
Closing
Nov 15, 2020
About this deal
AI
The retail property located at 1398-1420 Massachusetts Avenue in Arlington, MA has been involved in a recent transaction. The property spans approximately 26,300 square feet and is situated in the Arlington market.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $12,280,000
- Borrower: Bierbrier Development
- Lender: Cambridge Savings Bank - Nick Donofrio
- Broker: Brian Corcoran - Ackman-Ziff
- Loan Amount: $12,280,000
Nick Donofrio of Cambridge Savings Bank provided the loan for this transaction. Brian Corcoran from Ackman-Ziff represented the parties involved in the deal.
Players
Abington Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.29%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93