Updated Oct 19, 2026
DNB Bank Provides $210M Loan For Development Site In Homestead
22275 Southwest 272nd Street
$210,000,000
$538/SF
Building Size
390,000 SF
Asset Type
Development Site
Closing
Apr 22, 2020
About this deal
AI
A development site located at 22275 Southwest 272nd Street in Homestead has been involved in a closed transaction. The lender, DNB Bank, provided a loan amount of $210,000,000 for this project. The development site has a total square footage of 390,000 and is owned by Atlantic Sapphire, represented by Johan Andreassen and Bjorn-Vegard Lovik.
Summary of transation details
- Property Type: Development site
- Transaction Amount: $210,000,000
- Address: 22275 Southwest 272nd Street
- Market: Homestead
The deal was facilitated by the brokers Alberto Hernandez, Elena Otero, Faisal Kraziem, Brittany Fox, and Danielle Moore. They played a crucial role in connecting the lender, DNB Bank, with Atlantic Sapphire. The involvement of these brokers showcases their expertise in the real estate market.
On the Map
$210,000,000
$538/SF
Development Site
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Players
Homestead 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
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93