Updated Oct 28, 2024
H Equities Provides $2.5M Acquisition Loan For Development Site In Washington DC
1313 Alabama Avenue Southeast, Washington, District Of Columbia 20032, United States
$2,500,000
$7/SF
Building Size
350,000 SF
Asset Type
Development Site
Closing
Dec 30, 2021
About this deal
AI
The development site located at 1313 Alabama Avenue in Washington DC has been involved in a complex transaction that recently closed. This site has a building square footage (BSF) of 350,000 and is owned by Standard Real Estate Investments. The transaction involved multiple sophisticated counterparties and was completed in just two weeks.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,500,000
- Lender: H Equities - Elliot Horowitz
- Loan Type: Acquisition
Elliot Horowitz of H Equities served as the lender in this transaction. He can be reached at [email protected], 917-748-1955, or 718-766-8818. If you or a client are in need of debt or equity, it is recommended to reach out to him for further opportunities.
Players
Washington 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
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93