Ocean Bank Provides $19.5M Construction Loan For 130-Unit Property In DeBary
2841 Enterprise Rd
Units
130
Asset Type
—
Closing
Sep 15, 2022
About this deal
AI
The construction property located at 2841 Enterprise Rd in DeBary has been involved in a recent loan transaction. The property comprises 130 units and spans 211,500 square feet.
Summary of transaction details
- Property Type: Construction
- Transaction Amount: $19,500,000
- Market: DeBary
- Lender: Ocean Bank
- Landlord: Tilmar Hansen
- Broker: Brandon Perdeck - Aries Capital
Ocean Bank granted a loan of $19,500,000 to refinance the construction property at 2841 Enterprise Rd. The loan terms include a construction loan and a mini-perm arrangement.
Traded’s record for 2841 Enterprise Rd in Debary, Florida covers a commercial sale from 2022. Named participants on the 2841 Enterprise Rd sale are Tilmar Hansen. This page is the Debary, Florida file for the 2841 Enterprise Rd commercial sold: pricing, party profiles, and other closed commercial comps from the same Debary sit in the Market section below. Filter that Debary commercial set by closing date to see what else sold near 2841 Enterprise Rd around 2022. Cite this Ocean Bank Provides $19.5M Construction Loan For 130-Unit Property In DeBary sale when underwriting similar commercial product around Debary, Florida.
Players
Debary CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93