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138 River Rd, Andover, MA, ...

Updated Oct 29, 2024

Alexandria Real Estate Equities Acquires Property At 138 River Rd Andover For $151M
SOLDSchool

Alexandria Real Estate Equities Acquires Property At 138 River Rd Andover For $151M

138 River Rd, Andover, MA, 01810

$151,000,000

Building Size

Asset Type

School

Closing

Jan 19, 2022

About this deal

AI

The property involved in this transaction is located at 138 River Rd, Andover, MA, 01810. Alexandria Real Estate Equities purchased this asset for a total price of $151,000,000. The transaction is part of a larger deal encompassing more than 1.3 million square feet of office, R&D, and laboratory space within the Minuteman Park corporate campus in Andover.

Summary of transaction details:

  • Property Type: Office, R&D, Laboratory
  • Transaction Amount: $151,000,000
  • Address: 138 River Rd, Andover, MA, 01810
  • Market: Andover
  • Buyer: Alexandria Real Estate Equities
  • Seller's Representatives: Matthew (Matt) Pullen, Edward Maher (Newmark)
  • Related Transactions: Alexandria also acquired properties at 30, 100, and 200 Minuteman Road in this deal.

Newmark, represented by Robert Griffin, Edward Maher, Matthew Pullen, and Samantha Hallowell, handled the representation of the sellers in this transaction. The deal included the right to develop a new biomanufacturing facility onsite, highlighting the strategic nature of the acquisition for Alexandria Real Estate Equities.

Players

Matthew Pullen

Newmark

Broker

$6.2B

vol

57 deals

Broker
RE
Real Estate EquitiesBuyer

Andover School Market Snapshot

Boundary boundary · School · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.11%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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