Updated Oct 29, 2024
District Of Columbia Housing Finance Agency Provides $82.7M Construction Loan For Development Site On Park Road NW In Washington, DC
600 Park Road Northwest, Washington, District Of Columbia 20010, United States
$82,700,000
Building Size
—
Asset Type
Development Site
Closing
Apr 17, 2023
About this deal
AI
The loan for the development site at 600 Park Road NW in Washington, DC has been finalized. The loan, provided by the District of Columbia Housing Finance Agency, amounts to $82,700,000. The site is owned by Community Builders & Dantes Partners.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $82,700,000
- Lender: District of Columbia Housing Finance Agency
- Landlord: Community Builders & Dantes Partners
The development site loan is classified as a construction loan. The loan was granted on the date of 12/13/2022, marking an important milestone for the project. The Community Builders & Dantes Partners, as the landlord, will utilize the loan to develop the site into a new project, contributing to the growth and development of the area.
Players
Washington Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93