21 Erie Street
A mixed-use property in Cambridge, Massachusetts. Securitized in 2 CMBS deals in 2024.
$75.5MAppraised value (latest deal)
100.0%Occupancy
$5.3MUnderwritten NOI
7.1%Implied cap rate
- Address
- 21 Erie Street, Cambridge, MA 02139
- Property type
- Mixed Use · Lab/Office
- Year built
- 1925
- Size
- 51,914 SF
- Sponsor
- BioMed Realty, L.P.
- Loan purpose
- Refinance
- Largest tenant
- MIL 21E
Appearances in CMBS deals
| Deal | Cut-off / filing | Appraised | Occ. | UW NOI | Cap | Loan / alloc. bal. | LTV | DSCR | Source |
|---|---|---|---|---|---|---|---|---|---|
| BBCMS 2024-5C29 | 2024-09-18 | $75.5M | 100.0% | $5.3M | 7.1% | $2.2M | 50.1% | 2.34x | 424B |
| WFCM 2024-5C2 | 2024-11-19 | $75.5M | 100.0% | $5.3M | 7.1% | $1.2M | 50.1% | 2.34x | 424B |
Historical NOI reported in WFCM 2024-5C2
| Period ending | NOI |
|---|---|
| 3/31/2024 | $4.8M |
| 12/31/2023 | $4.8M |
| 12/31/2022 | $4.7M |
More CMBS properties in Massachusetts →
Figures are read from Annex A-1 of the trust's SEC prospectus as of the deal's cut-off date. Parsing can misread a cell; the prospectus link is the authoritative source. Implied cap rate = underwritten NOI ÷ appraised value, shown only between 2% and 20%.