Sean Harrington Of Aztec Group Arranges $44M Construction Loan In Wellington
1381 State Road 7
$44,000,000
$15/SF
Building Size
2,779,128 SF
Asset Type
Development Site
Closing
Mar 8, 2024
AI
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.
Players
Wellington Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93