Marcus & Millichap Capital Corporation Secures $7.05M Loan For Retail Property On Cousineau Drive, Swansea, MA
FINANCED
$7,050,000
Massachusetts
See Similar DealsRetail152,620 SF
Financed 04/06/2021
FINANCED
Marcus & Millichap Capital Corporation Secures $7.05M Loan For Retail Property On Cousineau Drive, Swansea, MA
54 Cousineau Drive, Swansea, MA, USA
See Similar DealsRetail152,620 SF
Financed 04/06/2021
Summary
MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$46
Total Square Footage:152,620 SF
Transaction Type:Loan
A retail property located at 54 Cousineau Drive in Swansea, MA has been involved in a recent closed transaction. The property, facilitated by brokers Rick Lechtman and Daniel Lisser of Marcus & Millichap Capital Corporation, has secured a loan amount of $7,050,000. The loan terms include a long-term fixed-rate loan with one year of interest-only payments and a 25-year amortization schedule.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7,050,000
- Date: 04/06/2021
- Address: 54 Cousineau Drive
- Market: Swansea, MA
The loan deal for the retail property was facilitated by Rick Lechtman and Daniel Lisser, representing Marcus & Millichap Capital Corporation. The transaction is structured with a long-term fixed-rate loan, with the first year allowing interest-only payments, and will follow a 25-year amortization schedule.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,050,000.00
Monthly NOI$47,000.00
Monthly Debt Service$44,560.80
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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