Berkshire Bank Provides $65.1M Loan For Multifamily Property At 75 Canal Street In Manchester, NH
75 Canal Street, Manchester, New Hampshire 03101, United States
$65,100,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 30, 2022
AI
Located at 75 Canal Street in Manchester, NH, this multifamily property consists of 250 units. The transaction took place on November 30, 2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $65,100,000
- Market: Manchester, NH
- Lender: Berkshire Bank
- Landlord: Jones Street Investment Partners
- Brokers: Jeff Black, John Broderick, Sean Burke & Bryan Koop - Colliers
The loan for this transaction was provided by Berkshire Bank. Representing the landlord, Jones Street Investment Partners, the brokers involved in the deal were Jeff Black, John Broderick, Sean Burke, and Bryan Koop from Colliers.
Players
Manchester MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93