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12501 Wewahootee Rd, Orland...

Updated Oct 28, 2024

Synovus Bank Provides $45M Construction Loan For 360-Unit Development Site In Orlando
FINANCEDDevelopment Site

Synovus Bank Provides $45M Construction Loan For 360-Unit Development Site In Orlando

12501 Wewahootee Rd, Orlando, FL, USA

$45,000,000

$122/SF

Building Size

366,300 SF

Asset Type

Development Site

Closing

Aug 25, 2021

About this deal

AI

The development site located at 12501 Wewahootee Rd in Orlando has recently secured a construction loan from Synovus Bank. The loan, amounting to $45,000,000, has a four-year fixed-rate term. The property spans across 18 acres and features a total of 360 units with a combined square footage of 366,300.

Summary of transaction details

The deal was facilitated by Newmark, with Matthew Williams, Kyle Schlitt, and James Maynard representing the parties involved. The Cornerstone Group, led by Bill Kassebaum and Pablo Lopez, acted as the landlords in the transaction.

On the Map

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$45,000,000

$122/SF

Development Site

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Players

Matthew Williams

Newmark

Broker

$1.2B

vol

14 deals

Broker
TG
The Cornerstone GroupLandlord
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Orlando Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

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Deal FAQ

About $122 per square foot on a published $45M for 366,300 square feet (2021).

Visit Kyle Schlitt to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.35%

Cash-on-Cash

-0.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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