Ocean Block Capital Secures $1.8M Acquisition Loan For Norwell Retail Property With Mag Mile Capital - Matt Weilgus

A retail property located at 69 Washington Street in Norwell, MA has been acquired through a loan transaction. The property spans 3,600 square feet and is situated in the Norwell market.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $1,800,000
• Address: 69 Washington Street, Norwell, MA
• Market: Norwell, MA
• Loan Type: Acquisition
• Lender: Mag Mile Capital - Matt Weilgus
• Borrower: Ocean Block Capital
• Loan Amount: $1,800,000
• Loan Terms: The five-year loan features two years of interest-only payments, a 25-year amortization schedule, and a fixed interest rate of 3.65% for the duration of the five-year term. The loan-to-value ratio is 80%.

Mag Mile Capital, represented by Matt Weilgus, acted as the lender in this transaction. On the borrower's side, Ocean Block Capital was involved in the acquisition.