U.S. Construction Secures $44.7M Loan For Development Site In Delray Beach
FINANCED
$44,700,000
Florida
See Similar DealsDevelopment Site2,762 SF
Financed
FINANCED
U.S. Construction Secures $44.7M Loan For Development Site In Delray Beach
1625 South Ocean Boulevard, Delray Beach, FL, USA
See Similar DealsDevelopment Site2,762 SF
Financed
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$16183
Total Square Footage:2762 SF
Transaction Type:Loan
U.S. Construction, represented by John Farina, has secured a loan of $44,700,000 from Madison Realty Capital for a development site located at 1625 South Ocean Boulevard in Delray Beach. This development site spans across 1.17 acres in size and is situated in the Delray Beach market.
Summary of transaction details:
- Property Type: Development Site
- Address: 1625 South Ocean Boulevard, Delray Beach
- Market: Delray Beach
- Loan Amount: $44,700,000
- Lender: Madison Realty Capital
- Landlord: U.S. Construction - John Farina
- Broker: Jason Krane - Ackman Ziff
Jason Krane from Ackman Ziff represented U.S. Construction in securing the loan from Madison Realty Capital for this development site in Delray Beach.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$44,700,000.00
Monthly NOI$298,000.00
Monthly Debt Service$282,534.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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