Updated Oct 29, 2024
Empire Group Secures $88.5M Construction Loan For Village At Bronco Trail
29th Avenue at Sonoran Desert Drive
$88,500,000
Building Size
—
Asset Type
Development Site
Closing
Jul 11, 2023
About this deal
AI
Empire Group has secured an $88.5 million construction loan for the development of the Village at Bronco Trail located at 29th Avenue at Sonoran Desert Drive in Scottsdale, AZ. The loan will be used to finance the construction of the development site.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $88,500,000
- Landlord: Empire Group
- Brokers: Kyle McDonough & George Maravilla - Tower Capital
- Loan Type: Construction
Tower Capital, represented by brokers Kyle McDonough and George Maravilla, facilitated the $88.5 million construction loan for the development of the Village at Bronco Trail on behalf of Empire Group. This loan will provide the necessary funds to proceed with the construction of the site.
On the Map
$88,500,000
Development Site
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93