Updated Mar 3, 2026
Zephyr Development Secures $107M Loan For South Lake Tahoe Development Site
346 Stateline Avenue, South Lake Tahoe, NV, USA
$107,000,000
$528/SF
Building Size
202,621 SF
Asset Type
Development Site
Closing
Jan 24, 2019
About this deal
AI
A development site in South Lake Tahoe, located at 346 Eugene Drive, has recently been involved in a closed transaction. The property, with a total square footage of 202,621 square feet, boasts 143 units for potential development. The transaction took place on January 25, 2019.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $107,000,000
- Address: 346 Eugene Drive, Stateline, NV
- Market: South Lake Tahoe
The lender involved in this transaction was ACORE, represented by Warren de Haan. The loan amount provided for the development site was $107,000,000. The landlord of the property is Zephyr Development. Faisal Ashraf, from Lotus Capital Partners, acted as the broker in this deal.
Players
South Lake Tahoe 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
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93