Updated Oct 29, 2024
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.
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