Sean Harrington Of Aztec Group Arranges $44M Construction Loan In Wellington
FINANCED
$44,000,000
Florida
See Similar DealsDevelopment Site2,779,128 SF
Financed 03/08/2024
FINANCED
Sean Harrington Of Aztec Group Arranges $44M Construction Loan In Wellington
1381 State Road 7
See Similar DealsDevelopment Site2,779,128 SF
Financed 03/08/2024
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$15
Total Square Footage:2,779,128 SF
Transaction Type:Loan
The Development Site located at 1381 State Road 7 in Wellington spans a total of 2,779,128 square feet with a Buildable Square Footage of 505,502. The asset is owned by Lotis Group and was brokered by Sean Harrington from Aztec Group. The recent transaction involved a $44,000,000 Construction Loan.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $44,000,000
- Address: 1381 State Road 7
- Market: Wellington
- Landlord: Lotis Group
- Broker: Sean Harrington - Aztec Group
- Asset Type: Development Site
- Buildable Square Footage: 505,502
- Total Square Footage: 2,779,128
The key individuals involved in this deal include Sean Harrington from Aztec Group, who represented the seller in securing the $44,000,000 Construction Loan for the Development Site in Wellington.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$44,000,000.00
Monthly NOI$293,333.33
Monthly Debt Service$278,109.93
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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