Updated Oct 28, 2024
UMB Bank Provides $65.9M Loan For 2.74-Acre Development Site In Coral Springs
3300 North University Drive, Coral Springs, FL, USA
$65,930,000
$519/SF
Building Size
126,947 SF
Asset Type
Development Site
Closing
May 24, 2021
About this deal
AI
A development site located at 3300 University Drive in Coral Springs has been involved in a recent loan transaction. The property spans over 2.74 acres and consists of 351 units. The transaction took place on May 25, 2021.
Summary of transaction details
- Property Type: Development Site
- Loan Amount: $65,930,000
- Address: 3300 University Drive, Coral Springs
- Market: Coral Springs
- Units: 351
- Acres: 2.74
UMB Bank provided the loan for this transaction. The landlord of the property is Mill Creek Residential, represented by William C. MacDonald and Charles Bay.
On the Map
$65,930,000
$519/SF
Development Site
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Players
Coral Springs 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
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93