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
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.
Players
Coral Springs Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
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