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MREIS
394 LUXURY UNITS IN DOWNTOWN SPRINGFIELD, MA

SILVERBRICK SQUARE &

SILVERBRICK LOFTS

DOWNLOAD OFFERING MEMORANDUM
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122 CHESTNUT ST & 15 TAYLOR ST | SPRINGFIELD, MA

PORTFOLIO OVERVIEW

The Portfolio offers a significant critical mass portfolio in close proximity, totaling 394 units, allowing an operator to efficiently manage and staff the properties. 
 
EMPLOYMENT DRIVERS 
Pioneer Valley in Western Massachusetts is the largest concentration of retail, manufacturing, entertainment, banking, legal and medical groups in the area. Springfield and surrounding towns are home to some of the largest employers in the state including MassMutual, Smith & Wesson, Merriam Webster, the American Hockey League, Baystate Health, Big Y, Breck Shampoo, Hampden Bank, and Health New England. Residents of Springfield greatly benefit from the jobs created by these local employers. 

METRO CENTER SPRINGFIELD
- 95 WALK SCORE
- 65 TRANSIT SCORE
- 68 BIKE SCORE
AVERAGE COMMUTE TIME - 23.3 MIN

RECENTLY RENOVATED BUILDINGS
Current ownership has invested significant capital into the properties and have greatly improved the interiors and exteriors of the buildings as well as the mechanical systems. Silverbrick Square has a variety of new amenities including a private courtyard, resident’s lounge, and fitness center. At Silverbrick Lofts, there is a clubhouse with free Wi-Fi, a 24-hour fitness center and outdoor space with BBQs. The units feature architectural details such as exposed brick, reclaimed wood beams, arched windows, and high ceilings. 

 

122 Chestnut St Springfield MA-9 - Edited
122 Chestnut St Springfield MA-40 - Edited
ATTRACTIVE ASSUMABLE DEBT + PREF
Existing Debt  $36,146,302 @ 4.35% 
Pref Offered $18,453,698 @ 6.5% IO
Total Debt Offered $54,500,000
Blended Rate 5.08%
Maturity Mid 2027 & 2029
LTV (High Range) 70%
Amortization 30 Years

 

122 CHESTNUT ST | SPRINGFIELD, MA

SILVERBRICK SQUARE

double-bed (1)

UNITS

114

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TOTAL SF 

±94,479

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UPSIDE

26.57%

Silver-Brick-Square-Springfield-MA-OM-Reduced
UNIT TYPE   # OF UNITS AVG SF % UPSIDE
Studio/1 Bath 18 580 14%
1 Bed/1 Bath 40 820 15%
2 Bed/1 Bath 51  888 38%
2 Bed/2 Bath 4 1,116 15% 
3 Bed/2 Bath 1 705 40%
TOTAL/AVGS  114 822  27%

 

122 Chestnut St Springfield MA-22 - Edited

THE OPPORTUNITY

  • SilverBrick Square, a luxury apartment building located in the heart of Downtown Springfield near shopping, dining, entertainment, and transportation. SilverBrick Square has a variety of floor plans to suit the needs of most. Options include townhomes, lofts and duplexes. Enjoy a brand new state-of-the-art fitness center, club lounge, and courtyard all on site!
BuildingPhoto-8

UNIT AMENITIES

  • Newly Renovated
  • High Ceilings
  • Variety of Floor Plans
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BUILDING AMENITIES

  • Courtyard
  • Resident’s Lounge
  • Elevator
  • Fitness Center
15 TAYLOR ST | SPRINGFIELD, MA

SILVERBRICK LOFTS

double-bed (1)

UNITS

280

triangular-ruler-1

TOTAL SF 

±222,664

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UPSIDE

18.13%

Silver Brick Lofts - 1
UNIT TYPE   # OF UNITS AVG SF % UPSIDE
Studio/1 Bath 13 671 9%
1 Bed/1 Bath 181 1,334 15%
1 Bed/1.5 Bath 28 752 13%
2 Bed/1 Bath 41  810 33%
2 Bed/1.5 Bath 2 965 35%
3 Bed/1 Bath 1 1,116 15% 
Commercial 14 1,180 22%
TOTAL/AVGS 280 1,156 18%

 

BuildingPhoto-2

THE OPPORTUNITY

  • The premier luxury rental property in the heart of Springfield’s downtown business and entertainment district.
    Live, work, and play in a vibrant community of artists, students, and young professionals. We are just a short walk from dining, shopping, museums, and transportation. SilverBrick Lofts has extraordinary architectural detail such as exposed bricks, reclaimed wood beams, arched windows and high ceilings. Enjoy a state-of-the-art fitness center, residents lounge with free Wi-Fi, outdoor space with BBQ and covered parking.
BuildingPhoto-2 (1)

UNIT AMENITIES

  • Newly Renovated
  • Hardwood Floors
  • Stainless Steel
  • Appliances
BuildingPhoto-4 (1)

BUILDING AMENITIES

  • Landscaped Grounds
  • Electronically Secured Entrances
  • Clubhouse w. Free WiFi
  • 24 HR Fitness Center
  • Covered Parking Available
  • Rental Office
  • Package Service
  • 24 HR Emergency Maintenance
  • 24 HR Laundry Facilities
15 TAYLOR ST | SPRINGFIELD, MA

AREA OVERVIEW 

Silver Brick Square-122 Chestnut St & 15 Taylor St-Springfield-MA-Aerial1@4x
Silver Brick Square-122 Chestnut St & 15 Taylor St-Springfield-MA-Aerial2@4x
DOWNLOAD OFFERING MEMORANDUM

EXCLUSIVELY LISTED BY:

DAVID FERBER, CPA
Associate VP & Director
 
License No. 110401336343 (NY)

 

BROKER OF RECORD
Kyle Matthews
License No. 1000083-RE-RB (MA)