Gantry Secures $13M Construction Loan For Victoria Farms Development In Lake Havasu City
6590 Chenoweth Road
$13,000,000
Building Size
—
Asset Type
Development Site
Closing
Feb 2, 2024
AI
The $13 million construction loan secured by Gantry is for the development of Victoria Farms, a Class A manufactured housing project with 305 homesites located at 6590 Chenoweth Road in Lake Havasu City, Arizona.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $13,000,000
- Address: 6590 Chenoweth Road
- Market: Lake Havasu City, AZ
- BROKERS: Andrew Ferguson & Tony Kaufmann - Gantry
Andrew Ferguson and Tony Kaufmann from Gantry facilitated the $13 million construction loan for the development of Victoria Farms in Lake Havasu City, Arizona.
Players
Lake Havasu City Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.22%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93