Bank OZK Provides $252M Construction Loan For Development Site In St. Petersburg
FINANCED
$252,000,000
Florida
See Similar DealsDevelopment Site1 SF
Financed 06/01/2023
FINANCED
Bank OZK Provides $252M Construction Loan For Development Site In St. Petersburg
400 Central Avenue, St. Petersburg, Florida 33701, United States
See Similar DealsDevelopment Site1 SF
Financed 06/01/2023
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$252,000,000
Total Square Footage:1 SF
Transaction Type:Loan
A development site located at 400 Central Avenue in St. Petersburg has been involved in a recent closed transaction. The property is a development site with a buildable square footage (BSF) of 1,300,000. The transaction took place on 01/06/2023.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: Not specified
- Address: 400 Central Avenue
- Market: St. Petersburg
The lender in this transaction was Bank OZK, providing a construction loan. The landlord, representing the property, was Red Apple Real Estate, with John Catsimatidis as the representative. The loan amount was $252,000,000.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$252,000,000.00
Monthly NOI$1,680,000.00
Monthly Debt Service$1,592,811.42
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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