PNC Bank Provides $57.4M Loan For Development Site In Boca Raton
9260 Boca Vue Drive, Boca Raton, Fl 33428, Usa
$57,400,000
$38/SF
Building Size
1,509,149 SF
Asset Type
Development Site
Closing
Apr 26, 2020
AI
A development site located at 9260 Boca Vue Drive in Boca Raton has been involved in a closed transaction. The property, owned by The Richman Group and Richard Paul Richman, is described as a development site in the market of Boca Raton.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $57,400,000
- Units: 354
The lender involved in the transaction is PNC Bank. As for the landlord, it is The Richman Group represented by Richard Paul Richman.
Players
Boca Raton 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
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93