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PNC Bank Provides $66.61M Construction Loan To White Oak Development For Plantation Multifamily Project

Property Image
FINANCED
$66,610,000

Florida

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Development Site
Financed 03/26/2026
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Property Image
FINANCED

PNC Bank Provides $66.61M Construction Loan To White Oak Development For Plantation Multifamily Project

321 North University Drive

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Development Site
Financed 03/26/2026
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Development Site
Transaction Type:Loan

The asset involved is a development site located at 321 North University Drive in Plantation, encompassing 5.7 acres. The site has been designated for a multifamily project comprising 297 units, with a loan amount of $66,610,000 secured for its construction. The land was acquired for $8.5 million in 2025.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $66,610,000
  • Asset Address: 321 North University Drive
  • Market: Plantation
  • Acres: 5.7
  • Lender: PNC Bank
  • Landlord: Andy Burnham - White Oak Development
  • Loan Type: Construction

PNC Bank provided financing for this eight-story development, which will feature 16 live/work units, along with various amenities, including a fitness center, coworking lounge, theater room, pickleball courts, and a pool deck. This project represents the final parcel of the 27-acre mixed-use development at Plantation Walk.

Players

PNC Bank
PNC Bank
LENDER
Andy Burnham
Andy Burnham
5 deals$153.3M volume
LANDLORD

Details

FINANCED
IMAGE: Andy Burnham DATE: 03/26/2026 ADDRESS: 321 North University Drive MARKET: Plantation ASSET TYPE: Development Site ~ ACRES: 5.7 LENDER: PNC Bank (@PNCBank) LANDLORD: Andy Burnham - White Oak Development LOAN AMOUNT: $66,610,000 LOAN TYPE: Construction NOTE: PNC Bank provided a $66.61M construction loan to White Oak Development for a 297-unit multifamily project at Plantation Walk on a 5.7-acre site acquired for $8.5M in 2025.The eight-story development will include 16 live/work units and amenities such as a fitness center, coworking lounge, theater room, pickleball courts, and pool deck, completing the final parcel of the 27-acre mixed-use project.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$66,610,000.00

Monthly NOI$444,066.67
Monthly Debt Service$421,020.51
Change in Cash Flow$0.00
Refinance Proceeds$0.00