District Of Columbia Housing Finance Agency Provides $82.7M Construction Loan For Development Site On Park Road NW In Washington, DC
FINANCED
$82,700,000
District Of Columbia
See Similar DealsDevelopment Site
FINANCED
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
See Similar DealsDevelopment Site
Summary
Asset Type:Development Site
Transaction Type:Loan
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.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$82,700,000.00
Monthly NOI$551,333.33
Monthly Debt Service$522,720.26
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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