FINANCEDDevelopment Site
Churchill Real Estate Provides $79M Construction Loan For Development Site In Avondale, AZ
$79,000,000
Building Size
—
Asset Type
Development Site
Closing
Sep 20, 2022
AI
In Avondale, AZ, a development site was involved in a closed transaction, with a loan provided by Churchill Real Estate. The loan amount was $79,000,000, and it was a construction loan.
Summary of transaction details
- Property Type: Development Site
- Loan Amount: $79,000,000
- Lender: Churchill Real Estate - Jeff Rosenfeld & Sean Robertson
- Brokers: Jake Lapidot & Michael Horowitz - Cooper-Horowitz
Jake Lapidot and Michael Horowitz of Cooper-Horowitz represented the parties involved in this transaction as brokers.
Players
Market 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