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12051 Southwest Tom Mackie ...

Updated Jun 23, 2026

FINANCEDDevelopment Site

Forman Capital Provides $14.99M Construction Loan For Phase 1 Of Tradition At Commerce Park

12051 Southwest Tom Mackie Boulevard

$14,990,000

Building Size

—

Asset Type

Development Site

Closing

Jun 22, 2026

About this deal

AI

The property known as Tradition at Commerce Park is a development site in Port St. Lucie, Florida. It consists of a 73,600-square-foot shallow-bay industrial project that is part of a larger master development totaling 552,000 square feet. The project is located at 12051 Southwest Tom Mackie Boulevard, positioned within a market that is currently experiencing growth driven by population and tenant demand.

Summary of transaction details:

This transaction was facilitated by Forman Capital, which provided funding specifically for Phase 1 of the project. The first phase includes two flexible industrial buildings, which are not yet occupied by tenants. The lenders involved are continuing to support industrial projects in rapidly developing logistics markets across Florida.

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$14,990,000

Development Site

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Players

Ben Jacobson

Forman Capital

Lender

$287.9M

vol

10 deals

Lender
Forman Capital
Forman CapitalLender
BTH Development Partners
BTH Development PartnersLandlord
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Market Development Site Market Snapshot

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.06%

Cash-on-Cash

-0.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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