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Avondale, Arizona, United S...

Churchill Real Estate Provides $79M Construction Loan For Avondale Development Site
FINANCEDDevelopment Site

Churchill Real Estate Provides $79M Construction Loan For Avondale Development Site

Avondale, Arizona, United States

$79,000,000

Building Size

Asset Type

Development Site

Closing

Sep 19, 2022

AI

A development site in Avondale, AZ has secured a construction loan of $79,000,000. The loan was provided by Churchill Real Estate, with Jeff Rosenfeld and Sean Robertson representing the lender. Jake Lapidot and Michael Horowitz, from Cooper-Horowitz, acted as brokers in the transaction.

Summary of transaction details

The deal involved key individuals and companies in the real estate sector. Jeff Rosenfeld and Sean Robertson served as representatives for Churchill Real Estate, the lender that provided the construction loan. Cooper-Horowitz, represented by Jake Lapidot and Michael Horowitz, acted as brokers in the transaction.

Players

Michael Horowitz

Cooper Horowitz

Broker

$1.1B

vol

24 deals

Broker
Jeff Rosenfeld

Jeff Rosenfeld

Churchill Real Estate

Lender

$348.5M

vol

6 deals

Lender
Churchill Real Estate
Churchill Real EstateLender

Avondale Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.20%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93