Updated Oct 29, 2024
Wells Fargo Provides $62.9M Loan For Development Site On 325 W. Adams St In Jacksonville
325 W Adams St, Jacksonville, FL 32202, USA
$62,900,000
$388/SF
Building Size
162,000 SF
Asset Type
Development Site
Closing
Jul 7, 2020
About this deal
AI
A development site located at 325 W. Adams St in Jacksonville was recently involved in a closed property transaction. The property, owned by Ryan Cos. and represented by Patrick G. Ryan, attracted attention from Wells Fargo, who provided a loan amount of $62,900,000 for the deal. The property has a building square footage (BSF) of 162,000, making it a sizeable asset in the market.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $62,900,000
- Lender: Wells Fargo
- Landlord: Ryan Cos. - Patrick G. Ryan
- Address: 325 W. Adams St
- Market: Jacksonville
- BSF: 162,000
During the transaction, Patrick G. Ryan, representing Ryan Cos., was instrumental in securing the loan from Wells Fargo. This successful collaboration between the landlord and lender highlights their expertise and ability to navigate the complexities of the deal.
On the Map
$62,900,000
$388/SF
Development Site
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Players
Jacksonville 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
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93