Talcott Resolution Life Insurance Provides $28M Construction Loan For Development Site In Dania Beach
2200 Northeast 7th Avenue
$28,000,000
$163,742/SF
Building Size
171 SF
Asset Type
Development Site
Closing
Feb 8, 2022
AI
Located at 2200 Northeast Seventh Avenue in Dania Beach, this 22.4-acre development site was recently involved in a closed transaction. The property, with a building square footage of 171,000, is situated in a prime location within the market.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $28,000,000
- Market: Dania Beach
- Building Square Footage: 171,000
- Lot Size: 22.4 acres
In this deal, the lender, Talcott Resolution Life Insurance, provided a construction loan of $28,000,000. The landlord, Bridge Industrial, represented by Steve Poulos & Kevin Carroll, facilitated the transaction. The involvement of these key individuals and companies highlights the collaborative efforts behind the successful completion of the deal.
Players
Miami 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
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93