Updated Mar 6, 2026
Terra Acquires 45-Acre Development Site In Sweetwater With $35.28M Construction Loan From S&K
11897 Northwest 12th Street, Miami, Florida 33168, United States
$35,280,000
Building Size
—
Asset Type
Development Site
Closing
Apr 17, 2023
About this deal
AI
A development site located at 11897 Northwest 12th Street in Sweetwater has recently been involved in a closed transaction. The property spans approximately 45 acres, making it a significant plot for potential development. The deal involved a construction loan from S&K, amounting to $35,280,000. The loan was secured by Terra, represented by David Martin.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $35,280,000
- Address: 11897 Northwest 12th Street, Sweetwater
- Market: Sweetwater
- Asset Type: Development Site
- Acres: 45
- Lender: S&K
- Landlord: Terra - David Martin
In this transaction, Terra, represented by David Martin, acted as the landlord for the development site. S&K provided a construction loan of $35,280,000 to facilitate the project. The deal showcases the potential for significant development on the property, thanks to its expansive 45-acre size.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93