Bierbrier Development Secures $12.28M Loan For Massachusetts Avenue Retail Property
FINANCED
$12,280,000
Massachusetts
See Similar DealsRetail26,300 SF
Financed 11/16/2020
FINANCED
Bierbrier Development Secures $12.28M Loan For Massachusetts Avenue Retail Property
323 Centre Avenue, Abington, MA, USA
See Similar DealsRetail26,300 SF
Financed 11/16/2020
Summary
MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$466
Total Square Footage:26,300 SF
Transaction Type:Loan
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.
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Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$12,280,000.00
Monthly NOI$81,866.67
Monthly Debt Service$77,617.95
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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