Wells Fargo Bank Provides $51.4M Loan For Development Site In Coral Springs
12000 Northwest 39th Street, Coral Springs, Florida 33065, United States
$51,350,000
Building Size
—
Asset Type
Development Site
Closing
Jul 25, 2022
AI
The development site located at 12000 NW 39th Street in Coral Springs has been involved in a closed transaction. The property spans over 22.2 acres and is owned by Foundry Commercial, represented by Paul Ellis.
Summary of transaction details:
- Property Type: Development Site
- Transaction Date: 07/26/2022
- Market: Coral Springs
- Address: 12000 NW 39th Street
- Landlord: Foundry Commercial - Paul Ellis
- Lender: Wells Fargo Bank
- Loan Amount: $51,350,000
Wells Fargo Bank provided a loan of $51,350,000 for this transaction. The involvement of Paul Ellis from Foundry Commercial as the landlord's representative signifies their role in the deal.
Players
Coral Springs Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93