Updated May 21, 2025
SteeleHarbour Capital Partners Secures $26.5 Million Acquisition Loan From Centennial Bank In Nokomis
2001 Laurel Road East
$26,500,000
Building Size
—
Asset Type
Development Site
Closing
May 12, 2025
About this deal
AI
The asset involved in this transaction is a development site located at 2001 Laurel Road East in Nokomis. The loan associated with this property is in the amount of $26,500,000, classified as an acquisition loan with a term of 24 months.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $26,500,000
- Lender: Jeffrey Woodin - Centennial Bank
- Landlord: SteeleHarbour Capital Partners
- Brokers: Charles Foschini, Christopher Apone, Shannon Wilson & Luke Maganas - Berkadia
This transaction involves key individuals in the real estate market, including Jeffrey Woodin representing Centennial Bank and the landlord SteeleHarbour Capital Partners. The deal is facilitated by a team of brokers from Berkadia, comprising Charles Foschini, Christopher Apone, Shannon Wilson, and Luke Maganas, who contributed their expertise to this acquisition process.
On the Map
$26,500,000
Development Site
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Players
Venice 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
0.60%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93