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
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