Old Wharf Dennis has recently acquired a 19.2-acre land in Dennisport, Massachusetts for $29.2 million from Chases Ocean Grove and secured $18.3 million in first mortgage acquisition financing from Webster Five Cents Savings Bank.
The property is located at 217, 218, 220, 230 and 241 Old Wharf Rd with 1,000 feet of beachfront access along Nantucket Sound encumbered by 277 individual ground leases improved with seasonal cottages. JLL represented both the seller and the buyer during the transaction led by Martha Nay Alan Suzuki Matt Enright Kellie Coveney while Jonathan Schneider headed up debt advisory services on behalf of Faros Properties to secure a five-year fixed-rate loan for the new owner .
This purchase marks an exciting milestone as Old Wharf Dennis acquires Cape Cod Land for $29M
