Updated Apr 8, 2026
City National Bank Of Florida Provides $36M Construction Loan For Development Site In Homestead
$36,000,000
Building Size
—
Asset Type
Development Site
Closing
Apr 5, 2026
About this deal
AI
The property asset involved in this transaction is a development site located at 27641 Southwest 145th Court in Homestead. The site spans 36.9 acres and is intended for the development of 176 townhouses.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $36,000,000
- Lender: City National Bank of Florida
- Landlord: Alberto Perez - AJP Ventures
- Landlord: Juan Carlos Mas - MasCap
- Loan Type: Construction
This transaction involves Poncecat Mandarin LLC, an entity led by Alberto J. Perez and Juan Carlos Mas, who are key figures in this deal. Lennar Corp. is noted to hold an option to purchase the homesites, indicating ongoing residential development activity in the surrounding region.
Players
Market 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
0.44%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93