Updated Mar 11, 2025
MassDevelopment Provides $2.55M Acquisition Financing For Retail Property In Lowell, MA
80 Gorham Street, Lowell, Massachusetts 01852, United States
$2,550,000
Building Size
—
Asset Type
Retail
Closing
Aug 18, 2022
About this deal
AI
Located at 80 Gorham St in Lowell, MA, this retail property was recently involved in an acquisition financing deal. The loan for this transaction was provided by massdevelopment''>MassDevelopment, represented by Dan Rivera & Mike Kennealy. The loan amount for the deal was $2,550,000.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,550,000
- Lender: MassDevelopment - Dan Rivera & Mike Kennealy
Dan Rivera & Mike Kennealy, from MassDevelopment, acted as the loan providers in this acquisition financing deal for the retail property located at 80 Gorham St in Lowell, MA.
Players
Lowell 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
6.22%
Cash-on-Cash
-1.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93