Updated Oct 29, 2024
Truist Bank Provides $35.7M Loan For Development Site In Lake Worth
9885 Palomino Dr, Lake Worth, Fl 33467, Usa
$35,700,000
$8/SF
Building Size
4,024,940 SF
Asset Type
Development Site
Closing
Jun 2, 2020
About this deal
AI
A development site located at 9885 Palomino Drive in Lake Worth has been sold in a closed transaction. The property consists of 128 units and has a total building square footage of 402,494. The loan amount for the transaction was $35,700,000.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $35,700,000
- Address: 9885 Palomino Drive
- Market: Lake Worth
- Units: 128
- Building Square Footage: 402,494
The lender for the transaction was Truist Bank, represented by Kelly S. King. The landlord of the property is Resort Lifestyle Communities.
Players
Lake Worth Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Deal FAQ
Browse California development site loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.44%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93