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Empire Group Secures $88.5M Construction Loan For Village At Bronco Trail
FINANCED
$88,500,000
Arizona
See Similar DealsDevelopment Site
Financed 07/11/2023
FINANCED
Empire Group Secures $88.5M Construction Loan For Village At Bronco Trail
29th Avenue at Sonoran Desert Drive
See Similar DealsDevelopment Site
Financed 07/11/2023
Summary
ARIZONA
Asset Type:Development Site
Transaction Type:Loan
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.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$88,500,000.00
Monthly NOI$590,000.00
Monthly Debt Service$559,380.20
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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