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
- Property Type: Development Site
- Transaction Amount: $79,000,000
- Market: Avondale, AZ
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
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