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TA Realty & Wilder Acquires Retail Portfolio In Newton, Woburn, Norwood, Cambridge, Sudbury, Wellesley, MA & Cranston, RI For $390M

Property Image
SOLD
$390,000,000
Mathew Adler
Jonathan (Jon) Martin
+ 3

Rhode Island

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Retail729,437 SF
Sold 05/18/2022
the dealplayerscompscontact
Property Image
SOLD

TA Realty & Wilder Acquires Retail Portfolio In Newton, Woburn, Norwood, Cambridge, Sudbury, Wellesley, MA & Cranston, RI For $390M

542 Pontiac Ave, Cranston, Rhode Island 02910, United States

See Similar Deals
Retail729,437 SF
Sold 05/18/2022
Mathew Adler
Jonathan (Jon) Martin
+ 3
Contact now

Summary

RHODE ISLAND
Asset Type:Retail
Price Per Square Foot:$534
Total Square Footage:729,437 SF
Transaction Type:Sale

The recently closed property transaction involves a retail asset located at 2040-2060 Commonwealth Ave, 368 Cambridge Rd, 134 Nahatan St, 37 White St, 505 Boston Post Rd, 1074 Lexington St, 442 Washington Street, and 542 Pontiac Avenue. This portfolio of properties is situated in Newton, Woburn, Norwood, Cambridge, Sudbury, Wellesley, MA, and Cranston, RI. The total square footage of the asset is 729,437, with a price per square foot of $535. The transaction was completed on 05/18/2022, and the sale price amounted to $390,000,000.

Summary of transaction details

The notable individuals and companies involved in this transaction include TA Realty & Wilder as the buyer and a team of brokers from Newmark, including Robert Griffin, Geoffrey Millerd, Jonathan Martin, Paul Penman, Mathew Adler, and Richard Ruggiero. These professionals played crucial roles in facilitating the successful completion of the deal.

Players

Geoffrey Millerd
14 deals$825M volume
BROKER

Robert (Rob) Griffin
Newmark
72 deals$7.3B volume(617) 863-8611
BROKER

Paul Penman
Newmark
14 deals$884.1M volume(617) 863-8638
BROKER

Jonathan (Jon) Martin
Newmark
9 deals$659.2M volume(972) 450-3262
BROKER

Mathew Adler
Newmark
6 deals$507.6M volume
BROKER

Rich Ruggiero
Newmark
13 deals$453.7M volume
BROKER

TA Realty
BUYER

Details

SOLD
IMAGE: 05/18/2022 IMAGE: Geoffrey Millerd, Richard Ruggiero, Robert Griffin, Paul Penman, Mathew Adler & Jonathan Martin ADDRESS: 2040-2060 Commonwealth Ave, 368 Cambridge Rd, 134 Nahatan St, 37 White St , 505 Boston Post Rd, 1074 Lexington St, 442 Washington Street & 542 Pontiac Avenue Cranston MARKET: Newton, Woburn, Norwood, Cambridge, Sudbury, Wellesley, MA & Cranston, RI ASSET TYPE: Retail BUYER: TA Realty & Wilder BROKERS: Robert Griffin, Geoffrey Millerd, Jonathan Martin, Paul Penman, Mathew Adler & Richard Ruggiero - Newmark SALE PRICE: $390,000,000 SF: 729,437 ~ PPSF: $535

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$20,800,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$1,385,587.62
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,848,798.97
Annual Debt Service$22,185,587.62