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Lotis Wellington Refinances Development Site In Wellington For $24M With LV Lending

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FINANCED
$24,000,000
Ricardo Uribe
Camilo Niño
Alen Hernandez

Florida

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Development Site1,603,443 SF
Financed 03/28/2022
the dealplayerscompscontact
Property Image
FINANCED

Lotis Wellington Refinances Development Site In Wellington For $24M With LV Lending

1351 State Road 7, Wellington, Florida 33414, United States

See Similar Deals
Development Site1,603,443 SF
Financed 03/28/2022
Ricardo Uribe
Camilo Niño
Alen Hernandez
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$15
Total Square Footage:1,603,443 SF
Transaction Type:Loan

The development site located at 1351-1381 South State Road 7 in Wellington has been refinanced for a loan amount of $24,000,000. The property is a development site with a building square footage (BSF) of 1,603,443 square feet. The transaction took place on March 28, 2022.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $24,000,000
  • Address: 1351-1381 South State Road 7, Wellington
  • Market: Wellington
  • BSF: 1,603,443 square feet

The loan for the refinancing was provided by LV Lending. The landlords involved in the deal are Adam P. Freedman, James S. Gielda, and John K. Markey from Lotis Wellington. Representing LV Lending in the transaction were brokers Camilo Niño, Ricardo Uribe, and Alen Hernandez.

Players

Camilo Niño
LV Lending
Camilo Niño
3 deals$78.7M volume
BROKER
Ricardo Uribe
LV Lending
Ricardo Uribe
4 deals$113.1M volume
BROKER
Alen Hernandez
LV Lending
Alen Hernandez
5 deals$137.6M volume
BROKER
LV Lending
LV Lending
LENDER

Details

FINANCED
IMAGE: Ricardo Uribe, Camilo Niño & Alen Hernandez DATE: 03/28/2022 ADDRESS: 1351-1381 South State Road 7 MARKET: Wellington ASSET TYPE: Development Site ~ BSF: 1,603,443 LENDER: LV Lending LANDLORD: Adam P. Freedman, James S. Gielda, John K. Markey - Lotis Wellington BROKERS: Camilo Niño, Ricardo Uribe & Alen Hernandez - LV Lending LOAN AMOUNT: $24,000,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$24,000,000.00

Monthly NOI$160,000.00
Monthly Debt Service$151,696.33
Change in Cash Flow$0.00
Refinance Proceeds$0.00