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Wells Fargo Provides $62.9M Loan For Development Site On 325 W. Adams St In Jacksonville

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FINANCED
$62,900,000

Florida

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Development Site162,000 SF
Financed 07/08/2020
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Property Image
FINANCED

Wells Fargo Provides $62.9M Loan For Development Site On 325 W. Adams St In Jacksonville

325 W Adams St, Jacksonville, FL 32202, USA

See Similar Deals
Development Site162,000 SF
Financed 07/08/2020
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$388
Total Square Footage:162,000 SF
Transaction Type:Loan

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.

Players

Wells Fargo
Wells Fargo
LENDER
RC
Ryan Cos
LANDLORD

Details

FINANCED
IMAGE: IMAGE: Patrick G. Ryan DATE: 07/08/2020 ADDRESS: 325 W. Adams St MARKET: Jacksonville ASSET TYPE: Development site LENDER: Wells Fargo LANDLORD: Ryan Cos. – Patrick G. Ryan LOAN AMOUNT: $62,900,000 BSF: 162,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$62,900,000.00

Monthly NOI$419,333.33
Monthly Debt Service$397,570.79
Change in Cash Flow$0.00
Refinance Proceeds$0.00