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467 Washington St, Boston, ...

Gazit Horizons Acquires Property At 467 Washington St In Boston With Geoff Millerd As Seller's Rep
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Gazit Horizons Acquires Property At 467 Washington St In Boston With Geoff Millerd As Seller's Rep

467 Washington St, Boston, MA, 02111

Building Size

10,500 SF

Asset Type

Retail

Closing

Jun 11, 2018

AI

467 Washington Street is a vacant, two-story plus lower-level retail asset located in the Downtown Crossing district of Boston, Massachusetts. The property has a square footage of 10,500 and is strategically positioned near two MBTA subway stations, surrounded by various retail, restaurant, hotel, and residential developments.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not disclosed
  • Address: 467 Washington St, Boston, MA, 02111
  • Market: Boston
  • Seller's Representative: Geoffrey Millerd-Newmark
  • Buyer: Gazit Horizons

The transaction was overseen by NKF Capital Markets, with Geoffrey Millerd serving as the Vice Chairman, assisted by Associate Director Paul Penman and Financial Analyst Christopher Peterson. This acquisition marks Gazit Horizons’ second purchase in the Downtown Crossing submarket. Gazit Horizons is actively pursuing lease agreements with several retailers for the property.

Players

Geoffrey Millerd

Newmark

Broker

$825M

vol

14 deals

Broker
Gazit Horizons
Gazit HorizonsBuyer

Boston Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93