Updated Oct 29, 2024
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
About this deal
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.
The development site loan at 9260 Boca Vue Drive, Boca Raton, Fl 33428, Usa in Boca Raton, Colorado financed for $57.4M in 2020. Reported inventory is 1,509,149 square feet across 354 units, or about 38 per square foot. Named participants on the 9260 Boca Vue Drive, Boca Raton, Fl 33428, Usa loan are Richard Paul Richman. This page is the Boca Raton, Colorado file for the 9260 Boca Vue Drive, Boca Raton, Fl 33428, Usa development site financed: pricing, party profiles, and other closed development site comps from the same Boca Raton sit in the Market section below. Filter that Boca Raton development site set by closing date to see what else financed near 9260 Boca Vue Drive, Boca Raton, Fl 33428, Usa around 2020. Published consideration for 9260 Boca Vue Drive, Boca Raton, Fl 33428, Usa is $57.4M, dated 2020. Cite this PNC Bank Provides $57.4M Loan For Development Site In Boca Raton loan when underwriting similar development site product around Boca Raton, Colorado.
Players
Boca Raton Development Site Market Snapshot
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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