Cymbal DLT Companies Acquires Fort Lauderdale Development Site For $32M With Loan From 3650 REIT
FINANCED
$32,000,000
Florida
See Similar DealsDevelopment Site
Financed 10/22/2022
FINANCED
Cymbal DLT Companies Acquires Fort Lauderdale Development Site For $32M With Loan From 3650 REIT
413 Southwest 3rd Avenue, Fort Lauderdale, Florida 33315, United States
See Similar DealsDevelopment Site
Financed 10/22/2022
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Loan
Located at 413 SW 3rd Avenue in Fort Lauderdale, this development site spans over 6 acres. The property, owned by Cymbal DLT Companies represented by Hector Torres & Asi Cymbal, recently closed a loan from 3650 REIT for a total amount of $32,000,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $32,000,000
- Address: 413 SW 3rd Avenue
- Market: Fort Lauderdale
- Owner: Cymbal DLT Companies - Hector Torres & Asi Cymbal
The loan from 3650 REIT will provide the necessary financing for the development of this extensive 6-acre property located at 413 SW 3rd Avenue in Fort Lauderdale. With Hector Torres & Asi Cymbal representing Cymbal DLT Companies, the deal brings together key individuals and companies to make this project a reality.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$32,000,000.00
Monthly NOI$213,333.33
Monthly Debt Service$202,261.77
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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